3 Worries About Carvana's Bullish Guidance
There's seemingly more to celebrate about Carvana (NYSE: CVNA) than most investors were expecting, given the stock's 24% jump last Friday following release of its latest results and outlook. The used car dealer chain just completed its best first quarter ever, generating more gross profit per sold vehicle than it's ever produced. Carvana turned $2.6 billion worth of first-quarter revenue into a gross profit of $341 million.