Why Carvana Spiked Today
Shares of online used car dealer (NYSE: CVNA) spiked on Thursday, rising about 12% as of 1 p.m. ET.
Carvana is a controversial stock with very high short interest, which can make for outsized moves both to the upside and downside, even at only mildly impactful news.
That appears to be happening today, as a few indirect news items around August retail sales and a looming United Auto Workers union strike may be causing shorts to cover.
Source Fool.com
Carvana Co. Stock
€58.66
-2.480%
With 57 Buy predictions and not a single Sell prediction Carvana Co. is an absolute favorite of our community.
Based on the current price of 58.66 € the target price of 398 € shows a potential of 578.49% for Carvana Co. which would more than double the current price.
