Carvana had plenty of good news for investors in its latest quarterly update.
Carvana (CVNA 5.85%) stock jumped higher after the company made progress in reducing inventory, raising cash, and generating more gross profit per car sale. Fool.com contributor and finance professor Parkev Tatevosian discusses whether Carvana's stock price increase was the right reaction.
*Stock prices used were the afternoon prices of May 5, 2023. The video was published on May 7, 2023.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
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