Why Carvana Stock Was Down on an Up Day for the Market
Shares of the online car marketplace Carvana (NYSE: CVNA) were tumbling today, despite market indexes making gains. Carvana's stock may have been falling as investors continue to process a price target cut from an analyst on Friday.
Additionally, investors are likely concerned that high inflation and a potentially slowing economy could negatively impact the company's quarterly results, which will be reported next week.
As a result, Carvana's stock was down by 6.5% as of 2:51 p.m. ET.
Source Fool.com
