CVNA - Where Will Carvana Stock Be in 3 Years?
2023-04-14 08:13:00 ET
For a while there, one of the best-performing stocks in the market was Carvana (NYSE: CVNA) , whose shares were up an astronomical 3,230% from their initial public offering in April 2017 to their all-time high in Aug. 2021. Investors who were smart and lucky enough to get on board early on might have achieved some remarkable returns.
But since that peak, it's been a wildly different story, as the stock is down 97% (as of April 13). Now, shareholders are wondering if it's even worth owning the stock anymore, with the company dealing with a very uncertain outlook.
Let's assume that Carvana is able to successfully navigate the current macro environment and that its unfavorable financial situation is overcome. Then where will the stock be in three years? The answer might give current shareholders some much-needed optimism.
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Where Will Carvana Stock Be in 3 Years?