CVNA Stock Summary and Trading Ideas (Carvana Co. Class A | NYSE:CVNA)

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.

Carvana Co. Class A trades on the NYSE stock market under the symbol CVNA.

As of May 10, 2024, CVNA stock price declined to $117.00 with 2,887,823 million shares trading.

CVNA has a beta of 4.25, meaning it tends to be more sensitive to market movements. CVNA has a correlation of 0.27 to the broad based SPY ETF.

CVNA has a market cap of $13.60 billion. This is considered a Large Cap stock.

Last quarter Carvana Co. Class A reported $3 billion in Revenue and $.23 earnings per share. This beat revenue expectation by $411 million and exceeded earnings estimates by $1.00.

In the last 3 years, CVNA stock traded as high as $376.83 and as low as $3.55.

The top ETF exchange traded funds that CVNA belongs to (by Net Assets): IWM, VTI, VB, VXF, VBK.

CVNA has outperformed the market in the last year with a price return of +789.7% while the SPY ETF gained +27.8%. CVNA has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +120.2% and +38.8%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

CVNA support price is $113.24 and resistance is $127.58 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CVNA stock will trade within this expected range on the day.