While Carvana Inc. shares soared despite weaker-than-expected financial results last week, two of the online car-seller's smaller rivals were not as fortunate Monday.
Shares of Carvana Co. dropped 2.9% in midday trading Monday, after J.P. Morgan analyst Rajat Gupta turned bearish, saying the online car buying and selling platform's stock is "expensive" in the wake of its recent near-record rally the previous session. Gupta cut the rating to underweight after being at neutral since June 2021. The stock price target was raised to $35 from $25, but the new target still implies about 23% downside from current levels. The stock had rocketed 40.1% on Friday to a th
PHOENIX, August 08, 2022--Carvana (NYSE: CVNA), the industry pioneer for buying and selling used cars online, announced a new nationwide sweepstakes today to help customers ease the pain at the pump, by offering a chance to win $2,500 fuel gift cards, equal to a year’s supply of free gasoline.