Why Carvana Stock Popped, Then Retreated Today

·2 min read
Why Carvana Stock Popped, Then Retreated Today

Shares of the online car-selling company Carvana (NYSE: CVNA) spiked this morning following a positive note from an analyst. JMP Securities analyst Nicholas Jones resumed coverage of the company and put a $35 price target on its stock. Jones said in an investor note that Carvana has enough cash and a strong value proposition and that despite recent negative press the company still has lots to offer automotive consumers -- including a large selection and positive buying experience -- according to The Fly.

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