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Dear Fellow Investor,
Company: Carvana (SYM: CVNA)
The pullback in Carvana (SYM: CVNA) is overkill, we said on Sunday, January 5.
At the time, CVNA had just dropped from about $247 to a low of $179.79. All thanks to a bearish report from the short sellers at Hindenburg Research, which says the CVNA pullback is a “mirage” propped up by unstable loans and accounting issues.
Even analysts at JPMorgan came out in defense of the stock, brushing off many of the concerns in the Hindenburg report, citing many were “known unknowns that investors have been cognizant of, and have absorbed over the last several years.”
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BTIG analysts also defended the stock, noting that the information provided was previously covered by other short sellers. We also noted that CVNA was a buy opportunity, which it still is.
By Monday, January 6, CVNA opened at $187.97. By Tuesday, the battered stock was up more than $13 a share at $201.88. That’s about a $14 gain in days thanks to excessive fear.
Helping, analysts at RBC Capital just upgraded CVNA to a buy rating with a $280 price target.
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As noted by Investing.com, “RBC's upgrade is supported by four key factors, including an expected increase in retail unit sales as supply improves, confidence in the sustainability of gross profit per unit (GPU) levels, the potential of Carvana's marketplace opportunity, and anticipated balance sheet improvements.”
If you jumped into CVNA on our mention, congratulations on the quick win.
If you didn’t jump in yet, we still believe CVNA could race even higher.
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Do you currently own shares of CVNA? What other stocks do you have your eye on in 2025? Hit "reply" to this email and let us know!
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