FUV - Carvana (CVNA) Stock Could Hit $0
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Carvana (NYSE:CVNA) stock is taking a beating on Wednesday after Bank of America analyst Nat Schindler blasted the company’s shares in a report.
The new coverage from Schindler includes a potential price target of $0 per share for CVNA stock. The analysts claims this is a possibility if the company fails to secure a cash infusion. If it doesn’t it could run out of funds by the end of next year.
The Bank of America analyst adds to that by saying there’s no signs of a cash infusion on the way for the used-car retailer. However, if one were to be secured, it could result in shares of CVNA stock multyplying from its current value of $7.34.
It’s also worth mentioning that Schindler downgraded shares of CVNA stock alongside the price target talk. This has him setting a “neutral” rating for the shares, as compred to the firm’s prior “buy” rating.
What Do Other Analysts Expect from CVNA Stock?
The current consensus rating among analysts sets CVNA stock at “hold.” That comes from five “buy” ratings, 18 “neutral” ratings, as well as a single “sell” rating. In addition to that, the analsyts consensus price target is $47 per share. That represents a potential 580.2% upside for the stock.
CVNA stock is down 5.9% as of Wednesday afternoon and is down 97.2% since the start of the year.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace has all of the hottest stock market news traders need to know about on Wednesday! That includes what’s going on with shares of Mullen (NASDAQ:MULN) stock, Arcimoto (NYSE:FUV) stock, and stocks to consider selling before December.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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