CVNA - Carvana Stock Is Up 35% So Far in 2024. Can the Rally Continue?
2024-04-23 16:37:00 ET
Carvana (NYSE: CVNA) has emerged as one of the market's biggest turnaround stories, with shares up more than 800% over the past year and more than 35% since the start of the year. Those kinds of gains garner a lot of attention, and investors are particularly interested in insight on whether the rally will continue.
Is the stock a buy now, or will Carvana's path hit a dead end?
The online used car retailer has staged a remarkable comeback considering it wasn't too long ago that the threat of bankruptcy and widening losses sent shares to less than $4 back in 2022. The good news is that Carvana has taken important steps to improve its situation. The stock closed April 22 at $71.44.
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Carvana Stock Is Up 35% So Far in 2024. Can the Rally Continue?