Carvana Shares Surge on Bullish Ratings

Carvanas stock surged following positive ratings from Needham and BTIG, with Needham setting a price target of $500 and BTIG at $450. The jump was driven by Carvanas efficiency improvements, including expanded same-day delivery services. Despite the initial boost, the stock settled at $326.35, still up 2.5% from the previous close. The market rotation saw investors taking profits from high-flying tech stocks, and a flood of delayed economic reports is expected due to the recent government shutdown. Carvanas shares have risen 63.5% this year but remain 17.5% below their 52-week high. An investment of $1000 in Carvana five years ago would now be worth $1473.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.