Why Carvana Stock Soared Today

Why Carvana Stock Soared Today

On Friday, used-car company Carvana (NYSE: CVNA) released a 53-slide presentation outlining how it intends to cut costs and generate free cash flow (FCF) and apparently the market is a big fan. As of 10:30 a.m. ET Monday, Carvana stock was up 15%. According to Carvana management, factors in the used-car industry, the economy, and the financial markets are all compelling it to prioritize profitability over growth right now.