The wild swings continue with shares of Carvana Co. ( NYSE: CVNA ) up 23.65% in Wednesday morning action after coming off a trading halt for volatility.
The highly-shorted auto retailer stock has seen volume of over 20M shares less than an hour into the trading day. Double-digits swings for CVNA have been fairly common this year with short interest now topping the charts at more than 50% of total float.
Shares traded as high as $16.78 early on Wednesday vs. the 52-week range of $3.55 to $163.18.
Carvana ( CVNA ) was listed on Seeking Alpha's Catalyst Watch this week with share prices jolts anticipated. Seeking Alpha author The Asian Investor has warned that Carvana ( CVNA ) looks like a classic short squeeze trap. Wall Street analysts have been sitting out the battle with 21 out of 26 analysts rating the stock at Hold-equivalent.
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Carvana stock jumps 24% as volatile swings continue