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This Stock Gained Over 800% in 2023. Is It Time for Investors to Take Profits and Move On?

This innovative company avoided bankruptcy in 2023, but that doesn't mean it's a good stock to hold.

By Matt Frankel, CFP and Tyler Crowe – Jan 7, 2024 at 6:11AM EST

Carvana (CVNA 0.22%) made headlines in late 2022 when the business appeared to be on the verge of bankruptcy. It ended up surviving, and investors have been handsomely rewarded, but it could be time to move on. In this video, Fool.com contributor Tyler Crowe discusses why he thinks so, and what stock he'd suggest investors look at instead.

*Stock prices used were the afternoon prices of Jan. 3, 2024. The video was published on Jan. 5, 2024.

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About the Author

Matt Frankel, CFP
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst specializing in the real estate and financial sectors. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, Globe St, The National Desk, and other TV networks and publications for his real estate, financial, stock market, and investing expertise.
TMFMattFrankel
X@MattFrankelCFP

Matthew Frankel, CFP® has no position in any of the stocks mentioned. Tyler Crowe 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. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Carvana Stock Quote
Carvana
NYSE: CVNA
$400.92
(-0.27%)-$1.07
Lithia Motors Stock Quote
Lithia Motors
NYSE: LAD
$279.89
(-3.07%)-$8.87

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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