CVNA - Did Carvana Just Save Itself? Here's What Investors Should Know
2023-07-28 06:05:00 ET
Well, Carvana (NYSE: CVNA) has had an interesting last few years.
After announcing a trifecta of improving earnings numbers, a debt restructuring, and an at-the-market (ATM) stock offering last week, shares of the online used car marketplace are now up about 780% year to date and were, at one point, up over 1,000%. The company has put in a giant recovery from its 2021 and 2022 woes, making it one of the best-performing stocks in the world in recent months. However, shares are still 88% off the high set during the stock market bubble of early 2021, likely due to continued fears over a lack of profitability and growth.
Did Carvana perform a financial engineering miracle and stave off a bankruptcy filing ? Here's what investors need to know about the company's recent developments.
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Did Carvana Just Save Itself? Here's What Investors Should Know