CVNA - If I'd Bought $1000 Worth of Carvana Stock at the Start of the Year Here's How Much I Would Have Today
2023-08-14 07:30:00 ET
Shares of Carvana (NYSE: CVNA) cratered in 2022, finishing last year down 98%. This continued a slide that started after the stock hit its all-time high in August 2021.
But this year has been a wildly different story with shares up a whopping 762%. This means a $1,000 investment in the used car online retail business at the start of the year would be worth over $8,600 today. That crushes the gains posted by the S&P 500 and Nasdaq Composite .
Investors are clearly warming up to the stock once again. Let's take a closer look at what's been happening with Carvana -- and whether that optimism makes sense.
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If I'd Bought $1,000 Worth of Carvana Stock at the Start of the Year, Here's How Much I Would Have Today