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Motley Fool
Why Carvana Rose Then Fell This Morning
Shares of Carvana (NYSE: CVNA) had been motoring higher on Thursday morning, rising 6% at one point, but as of 11:07 a.m. ET it had reversed course and was heading lower again with the stock down 1.7%. Carvana’s shares had rocketed as much as 16% higher yesterday on the analyst news, but ended the day up 9%. It should perhaps have been a sign of what to expect this morning as the fundamentals of Carvana’s business didn’t change all that much from the previous negativity.
