Why Carvana Stock Tumbled Today
Shares of Carvana (NYSE: CVNA) were heading lower today as disappointing guidance overcame better-than-expected results in its third-quarter earnings report.
The report also comes as investors have been spooked by rising auto delinquencies and the bankruptcy of two major suppliers in the auto parts industry, leading to broader concerns about credit in the industry.
As a result, the stock was down 9.6% at 10:19 a.m. ET.
Source Fool.com
Carvana Co. Stock
€403.70
0.360%
With 58 Buy predictions and not a single Sell prediction Carvana Co. is an absolute favorite of our community.
However, we have a potential of -1.91% for Carvana Co. as the target price of 396 € is below the current price of 403.7 €.
