Carvana stock price falls as used car values sink

Shares of used car marketplace Carvana continued to plummet Monday, falling over 50% over the past two trading days, following a volatile downward trend that began after the company shared third-quarter results Thursday.

Shares dropped 15% Monday to close the day at $7.39 a share, continuing a downward trajectory that began on Friday, when the company posted its worst-ever one-day performance, dropping 39%. The plunge began following disappointing earnings due to lower-than-expected salesMorgan Stanley analyst Adam Jonas on Friday pulled his $68 price target and said Carvana (CVNA) could be worth as little as $1 per share, citing the poor used-car market and volatile financial systems that “add material risk to the outlook.” Jonas’ replaced his earlier target with a base range of $1 to $40 per share.

The continued rapid fall prompted brief halts in trading through Monday morning due to market volatility.

Read the full article on CNN.

Posted in
mircari platform

Review: Mircari Social Media Platform Helps Brands Increase Visibility

By Andrea Kay | October 29, 2022

What is Mircari? Mircari, a social media management platform, helps businesses increase their online presence. It automates the creation and maintenance of social media…

Ramneek Sidhu Digital Kings

How Ramneek Sidhu Built A Social Media Marketing Empire with his Digital Kings Business

By Andrea Kay | October 26, 2022

Trending on socials in the recent past is one of the successful young entrepreneurs and digital marketing specialists—Ramneek Sidhu. People on the internet trend…

Adore by Priyanka

Review: Adore by Priyanka Jewelry Collection

By Andrea Kay | October 26, 2022

Adore by Priyanka is an online jewelry store that focuses on handmade jewelry. The company was founded in 2014 by Priyanka Krishnan, and it…

Norstrat Consulting Incorporated

Norstrat Consulting is a Key Partner in Implementing the Canadian Northern Strategy

By Andrea Kay | October 26, 2022

Norstrat Consulting has been providing professional consulting services to the Government of Canada and military services in the northern hemisphere for over 20 years. They…

Elon Musk Twitter sink

Elon Musk Reconsiders $44 Billion Acquisition of Twitter

By Andrea Kay | October 26, 2022

Elon Musk will visit Twitter’s San Francisco Office this week, ahead of the expected closing of his deal with to buy the company. This was disclosed by…

American Red Cross Corporate Donors

American Red Cross Disaster Relief Made Possible by Corporations of All Sizes

By Andrea Kay | October 26, 2022

The American Red Cross is one of the most recognizable charities in the United States. They are an essential resource in Disaster Relief, Blood…

What Helps Build a Strong Business Reputation?

By Andrea Kay | October 20, 2022

Your reputation will make or break your business when the time comes for you to face challenges with your company. But it is hard…

Nu Image Medical Mens Health

Telemedicine is Changing the Healthcare Industry; Early Adopters like Nu Image Medical are Reaping the Benefits

By Andrea Kay | October 19, 2022

Perhaps one of the most exciting and beneficial technological advancements in the medical community has been the adoption of telemedicine. While there have been…

The Freedom Era Academy

Review: An Education in Modern Entrepreneurship is Just a Click Away with The Freedom Era Academy

By Staff Writer | October 10, 2022

If you’re active on social media, it’s inevitable that at this point you’ve watched a few friends and acquaintances achieve entrepreneurial success. They left…