Reported 2 months ago
Carvana's stock jumped nearly 15% following the company's projection of strong core profit for 2024, exceeding Wall Street expectations. Analyst Craig Kennison highlighted Carvana's positioning to capture a larger market share as automotive shopping trends shift online. Despite challenges in vehicle demand, Carvana anticipates an adjusted EBITDA of $1 billion to $1.2 billion for the upcoming year, reflecting a recovery in used car demand and over $4 billion in potential market value gains.
Source: YAHOO