CVNA - Here's Exactly How Carvana Is Slashing Down $1.2 Billion of Debt -- Does This Signal a Magnificent Buying Opportunity?
2023-07-20 10:55:00 ET
It's only July, but it seems fair to call Carvana (NYSE: CVNA) the comeback stock of the year.
Shares of the online used car dealer, which seemed to be heading toward bankruptcy at the beginning of 2023, are now up 980% year to date after the company solidified its recovery with news of a debt restructuring, a new equity offering, and a better-than-expected second-quarter earnings report. Altogether, the stock jumped as much as 43% on Wednesday.
There's a lot to unpack here, so let's go over the details:
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Here's Exactly How Carvana Is Slashing Down $1.2 Billion of Debt -- Does This Signal a Magnificent Buying Opportunity?"