Shares of Carvana (NYSE: CVNA) were climbing today on seemingly no company-specific news. Instead, investors may be coming back to the stock following a significant drop over the previous two trading days.
Some investors may be viewing the recent pullback as a buying opportunity, sending Carvana's stock up by as much as 6.7% today before settling on gains of 2.2% as of 3:33 p.m. ET.
Carvana's stock plunged earlier this week after the Bureau of Labor Statistics released its latest inflation data. The report showed that the Consumer Price Index (CPI) rose 0.1% in August, which was worse than what some economists were expecting.
For further details see:
Why Carvana Stock Bounced Back Slightly Today