Carvana Co ($CVNA) Stock Forecast: Down 5.4% Today

What is Carvana Co?

Carvana (NYSE: CVNA) operates as an e-commerce platform for used car transactions. The stock witnessed a significant downward trend today.

Why is Carvana Co going down?

CVNA stock is down 5.4% on Dec 18, 2024 20:04

• Despite Carvana's impressive performance in recent years, today's decline may be a result of investors taking profits following a prolonged period of growth.
• Market sentiment could have been influenced by broader economic uncertainties or industry-related developments impacting the automotive sector, prompting a selloff of Carvana stocks.
• There is a possibility that investors are reevaluating their positions in high-growth companies like Carvana and adopting a more cautious approach given the current market conditions.

CVNA Price Chart

CVNA Technical Analysis

CVNA News

$1000 Invested In Carvana 5 Years Ago Would Be Worth This Much Today - Carvana ( NYSE:CVNA )

Carvana CVNA has outperformed the market over the past 5 years by 7.82% on an annualized basis producing an average annual return of 21.53%. Currently, Carvana has a market capitalization of $32.25 billion.

https://www.benzinga.com/insights/news/24/12/42449301/1000-invested-in-carvana-5-years-ago-would-be-worth-this-much-today

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Carvana Co Price History

06.11.2024 - CVNA Stock was down 5.0%

• Despite Carvana's strong performance and positive quarterly results, the stock experienced a bearish movement today.
• The bullish bets on Carvana options by market whales might have caused some volatility in the stock price.
• Investors may have been profit-taking after the stock's impressive run-up year-to-date, leading to the bearish movement.
• It's possible that market sentiment shifted due to concerns about the overall market conditions, impacting Carvana's stock price negatively despite its recent positive performance.

22.10.2024 - CVNA Stock was up 5.2%

• CVNA stock saw a bullish movement today due to:
• Positive earnings estimate revisions, hinting at potential future growth.
• Despite bearish options market sentiment, the overall outlook remains optimistic.
• The company's unique business model and strong performance relative to competitors likely played a role in the stock price surge.
• Investors' confidence in CVNA's resilience in the face of potential economic challenges and recession concerns.

08.09.2024 - CVNA Stock was up 5.4%

• Carvana (CVNA) experienced a strong bullish movement today, outperforming the market.
• The positive movement can be attributed to the company exceeding market returns and beating the stock market upswing, indicating strong investor confidence in Carvana's business model and growth prospects.
• The consistent upward trend in Carvana's stock price could be driven by increasing demand for online car buying solutions, especially in the current digital age where consumers seek convenience and safety in their purchasing experiences.
• Investors may be optimistic about Carvana's ability to capture a larger market share in the automotive industry, leading to a positive outlook for the company's stock performance in the near future.

17.08.2024 - CVNA Stock was up 5.1%

• Carvana's stock displayed a robust bullish movement today, closing at $141.90, representing a +0.98% change from the previous close.
• Despite the overall positive trend, there were indications of bearish attitudes in the options market, suggesting that certain investors with substantial funds have adopted a negative view on CVNA.
• With an annual outperformance of 1.79% above the market in the past five years, the stock has contributed to its current market capitalization of $18.95 billion.
• The minor decline in the stock price during trading hours could be due to profit-taking following a notable increase in market capitalization, leading investors to review their positions.

31.09.2024 - CVNA Stock was up 17.9%

• Carvana (CVNA) had a strong bullish movement today following its impressive Q3 earnings performance.
• The company reported better-than-expected third-quarter financial results, with revenue of $3.66 billion, surpassing the consensus estimate of $3.45 billion.
• Carvana's stock surged as adjusted EBITDA for full-year 2024 is expected to exceed the high end of the prior guided range, indicating strong growth prospects.
• The market reacted positively to Carvana's performance, reflecting investor confidence in the company's continued success and growth potential in the used car market.

31.09.2024 - CVNA Stock was up 21.2%

• Carvana (CVNA) saw a robust upward trend today following the announcement of its third-quarter financial results, which outperformed market forecasts.
• The primary factors behind Carvana's positive performance consist of a notable 32% year-over-year revenue surge, with Q3 revenue hitting $3.66 billion, exceeding the expected $3.45 billion.
• Additionally, Carvana's earnings per share (EPS) of 64 cents significantly surpassed the anticipated 17 cents, demonstrating the firm's impressive financial results and growth trajectory.
• Carvana's optimistic forecast, with anticipated adjusted EBITDA well above the prior full-year 2024 guidance, boosted investor confidence in the company's future potential, contributing to the positive market momentum.

18.08.2024 - CVNA Stock was up 5.1%

• An analyst reinstated coverage on Carvana with a Buy rating and a price target of $185, citing the company's well-positioning for sustained long-term growth in the fragmented market, likely boosting investor confidence and driving the stock price higher.
• Over the past 5 years, Carvana has consistently outperformed the market, showcasing its growth and potential for long-term profitability, attracting more investors to the stock.
• Despite the bullish market movement, there were indications of bearish sentiment in the options market, suggesting differing investor opinions on Carvana's future performance.
• With the stock outpacing market gains and adding over $10 billion to its market cap in 2024, some investors are cautious about buying the stock, indicating a potential careful approach despite the positive momentum.

11.11.2024 - CVNA Stock was up 5.1%

• The launch of Amazon Autos by a major e-commerce company could have sparked excitement in the online car-buying industry, benefiting companies like Carvana.
• Positive analyst sentiment towards Carvana (CVNA) and other non-tech stocks for 2025 may have contributed to the bullish movement.
• The anticipation of Carvana's momentum continuing into 2025, based on its operational discipline and market potential, likely attracted investors to the stock.

01.10.2024 - CVNA Stock was down 5.4%

• Despite Carvana's strong Q3 results and revenue expansion exceeding expectations, its stock witnessed a bearish trend.
• Potential profit-taking actions by investors could have been triggered by an exaggerated market response to the positive developments.
• Uncertainties regarding Carvana's growth sustainability and the competitive dynamics in the used car sector may have raised concerns among traders.
• The downward movement in CVNA's stock price could have been influenced by external market forces or broader economic anxieties.

05.10.2024 - CVNA Stock was up 5.2%

• Unusual options activity suggests a bullish sentiment among investors, potentially driving up the stock price.
• Strong Q3 results, with revenue beating estimates and total revenue up 32% year-over-year, likely boosted investor confidence in Carvana's growth potential.
• Analysts raising their forecasts after the strong Q3 results indicates a positive outlook for the company's future performance.
• Carvana's stellar Q3 performance, with earnings and sales topping estimates and a promising outlook for adjusted EBITDA in 2024, likely contributed to the bullish rally in the stock price.

05.10.2024 - CVNA Stock was up 5.2%

• Unusual options activity on Carvana suggests a bullish sentiment from investors with significant capital, which could potentially drive up the stock price.
• Carvana released third-quarter financial results exceeding expectations, including revenue of $3.66 billion, boosting investor confidence and fostering positive market sentiment.
• The company's impressive Q3 performance, marked by a 32% year-over-year revenue increase and beating earnings estimates, has propelled the bullish trend in Carvana stock.
• Carvana's favorable outlook for full-year 2024, anticipating adjusted EBITDA to outperform previous guidance, has further fueled the positive market response and upward momentum in the stock price.

18.11.2024 - CVNA Stock was down 5.4%

• Despite Carvana's impressive performance in recent years, today's decline may be a result of investors taking profits following a prolonged period of growth.
• Market sentiment could have been influenced by broader economic uncertainties or industry-related developments impacting the automotive sector, prompting a selloff of Carvana stocks.
• There is a possibility that investors are reevaluating their positions in high-growth companies like Carvana and adopting a more cautious approach given the current market conditions.