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
€389.15
1.080%
The stock is an absolute favorite of our community with 57 Buy predictions and no Sell predictions.
On the other hand, the target price of 387 € is below the current price of 389.15 € for Carvana Co., so the potential is actually -0.55%.
