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
€317.30
3.800%
The stock is an absolute favorite of our community with 59 Buy predictions and no Sell predictions.
With a target price of 389 € there is a positive potential of 22.6% for Carvana Co. compared to the current price of 317.3 €.
