Why Carvana Stock Skyrocketed 181% Last Year
Shares of Carvana (NYSE: CVNA) exploded last year as the used-car dealer continued to post blowout revenue growth aided by its unique vending-machine model that has won over customers. The stock also seemed to get a benefit from a short squeeze, as short-sellers have repeatedly been forced to buy back the stock. According to data from S&P Global Market Intelligence, the stock finished up 181% in 2019, following a 71% jump in 2018.
The chart below shows the stock's path.
Source Fool.com