Why Shares of Carvana Are Down Again Today
Shares of Carvana (NYSE: CVNA), an online used-car dealer known for its distinctive "vending machine" retail stores, were down again on Friday following a fourth-quarter earnings report that disappointed nervous investors.
As of 2 p.m. EST today, shares were trading down about 9.2% from Thursday's closing price.
Carvana's fourth-quarter report, released after the markets closed on Wednesday, wasn't all bad. Revenue jumped 88% from the year-ago period to $1.1 billion, on an 82% increase in retail sales. That was roughly in line with expectations.
Source Fool.com
