CVNA - Why Carvana Stock Lost 17% in September
2023-10-03 18:12:41 ET
Shares of Carvana (NYSE: CVNA) were having another roller-coaster month in September. The online used car dealer's stock briefly popped after its credit rating was upgraded, but soon after, the stock tumbled in response to the Federal Reserve's interest rate forecast.
The strike by the United Auto Workers also seemed to weigh on the stock, and a weak report by rival CarMax may have given more fuel to the bears.
According to data from S&P Global Market Intelligence , the stock finished the month down 17%. As you can see from the chart, the stock was higher momentarily before declining in the second half of the month.
For further details see:
Why Carvana Stock Lost 17% in September