Opinions
Jim Cramer - Mad Money
Carvana
CVNA-N
STRONG BUY
Jul 19, 2023
Stock price when the opinion was issued
You might be interested:
Moving up in a step pattern -- rallies, consolidates at the higher level, rallies, consolidates. A fantastic accumulation pattern, extremely well supported. Now consolidating. As long as it holds above $100 support, it's still being accumulated.
The 5-year chart is very interesting. Massive selloff, huge multi-year base, and now it's broken out. Looking at where it was, looks like it's just getting started longer term.
Simply put, carvana is a better way to buy a car. you can browse, finance, and purchase a car online and have it delivered to you as soon as the next day. cutting out the dealerships translates to thousands of dollars in lower costs on every vehicle we sell. we pass these savings on to consumers in four ways: lower prices (our customers save $1,681 on average vs. kelley blue book), premium cars, a better experience, and no hidden fees. Social media mentions are up 1150% in the past 24h.
Is heavily shorted, but he keeps recommending it. Today, they announced earnings suddenly. Shares soared 40% today with a blowout quarter--record sales, a new deal to reduce debt by $1.2 billion, Q2 earnings beat on all lines. A great comeback story.