Carvana is an innovative online platform that revolutionizes the process of buying and selling used vehicles
The company allows customers to browse a vast selection of cars through its website, providing detailed descriptions and visual assets to facilitate informed purchasing decisions. Carvana also offers unique features like home delivery and the option to sell or trade vehicles seamlessly, eliminating the traditional hassles associated with dealerships. With a focus on enhancing the customer experience, Carvana leverages technology to streamline every step of the automotive retail process, aiming to make car buying more convenient and accessible for consumers.
Shares of online used car dealer Carvana (NYSE: CVNA)
jumped 9.6% in the morning session after Piper Sandler analysts upgraded the stock from Neutral to Buy, suggesting that the company's reduced valuation presented a buying opportunity. The analysts added "We would use the recent sell-off to accumulate CVNA shares."
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Robinhood (NASDAQ:HOOD) and the rest of the consumer internet stocks fared in Q4.
Shares of online used car dealer Carvana (NYSE: CVNA)
fell 10.9% in the afternoon session after markets seemed to have caught "tariff/trade war fever" once again (Nasdaq down 1.9%, S&P 500 down 1.2%) amid broader geopolitical anxiety. The volatility was perhaps also related to uncertainty surrounding the Fed's rate decision to be announced later in the week. The consensus estimate was for the Fed to keep interest rates at the range of 4.25%-4.5%.
Whether it be online shopping or social media, secular forces are propelling consumer internet businesses forward. These themes have enabled rapid growth for the industry,
which has posted a 8.9% gain over the past six months.
This was a good place to be as the S&P 500 shed 1.1% of its value.
