Carvana Co. ( NYSE: CVNA ) stock was halted shortly after Monday’s market open after the stock drove to a double-digit percentage gain.
Shares of the Arizona-based online auto retailer jumped over 20% , triggering a volatility halt after about 15 minutes of trading on Monday. After the pause, shares extended gains to over 30% . The stock has risen over 100% to start 2023, rebounding sharply from about a 98% decline in 2022.
Trading volume on Monday exceeded the daily average within the first 40 minutes of the trading day. Short interest in Carvana ( CVNA ) stands at 65.43%, according to Seeking Alpha data.
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Carvana stock halted after over 30% surge