Why Carvana Stock Is Skyrocketing Today
Shares of the online car-buying company Carvana (NYSE: CVNA) were soaring today after the company released its second-quarter financial results. Although the company missed Wall Street consensus estimates for both its top and bottom lines, investors appeared to focus on its progress in cutting costs and narrowing its losses. Carvana's shares were up by 32.3% as of 11:15 a.m. ET on Friday.