CVNA - This Growth Stock Could 10X in 10 Years
2023-10-15 12:59:00 ET
After falling from grace, Carvana (NYSE: CVNA) is back to rewarding its shareholders. The stock has climbed a remarkable 615% so far this year, as of Oct. 12. Perhaps investors are now becoming very optimistic about the used car retailer's long-term prospects.
Carvana is undoubtedly still a very high-risk company to own, but should the business successfully navigate its financial woes and return to its historical trajectory, this growth stock has the potential to rise tenfold in the next decade. Here's why.
The way used cars have typically been sold in this country is a poor experience for consumers. They visit a brick-and-mortar dealership, choose from what is likely a limited inventory of cars, and haggle with a salesperson who might not always be transparent. Even worse, the entire process can take hours. Carvana saw an opportunity to apply technology, data, and e-commerce capabilities to disrupt the industry and it has huge potential because it provides a much better consumer experience, with increased convenience, a nationwide inventory of vehicles, clear pricing, free delivery, and a seven-day return policy.
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This Growth Stock Could 10X in 10 Years