Carvana Stock Poised for Volatility as Earnings Approach
Traders anticipate an 11% swing in Carvana shares following Wednesday's earnings report, with options pricing suggesting a potential rally to $373 or a drop to $299. The stock, down 2% at $329 in recent trading, has been a rollercoaster this year—plummeting from $285 to $163 in April before doubling in recent months.
Oppenheimer analysts remain bullish, projecting a 30% upside to $450, citing Carvana's disruptive digital model in the fragmented used-car market. Retail investors continue to fuel the meme stock's momentum, pushing it toward its August 2021 all-time high of $370.