CVNA - Is It Finally Time to Buy Carvana?
2024-05-13 04:03:00 ET
It's almost difficult to believe the roller coaster story that is Carvana (NYSE: CVNA) . It went on the wildest of rides during the COVID-19 pandemic and soared beyond any measure investors would have thought possible, only to crash to near bankruptcy. But the company survived, and began working to tighten up its operations and focus on profitability.
So is it finally a stable enough stock to buy now?
Investors that merely glance at a few graphs might be confused as to why you would buy Carvana right now, especially considering its slowing retail sales growth. In fact, Carvana's annual retail units sold have declined since 2021, from 425,237 units down to 412,296 units in 2022 down to 312,847 in 2023.
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Is It Finally Time to Buy Carvana?