|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's range||127.83 - 132.55|
|52-week range||22.16 - 132.55|
|Beta (5Y monthly)||2.36|
|PE ratio (TTM)||N/A|
|Earnings date||03 Aug 2020 - 07 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||95.00|
What happened Shares of Carvana (NYSE: CVNA) were climbing last month as a series of bullish analyst reports, positive third-party data, and momentum from the recovery pushed the online used car dealer higher.
Over the last three months, shares of Zillow Group (NASDAQ: Z)(NASDAQ: ZG), Carvana (NYSE: CVNA), and Spotify (NYSE: SPOT) have more than doubled. Shares of Zillow Group tanked during the early COVID-19 panic. The market feared the real estate industry would grind to a halt due to social distancing and the possibility of tighter lending standards.
CarvanaACCESS, Carvana's direct-purchase platform, gives wholesale buyers the exclusive opportunity to buy recent Carvana trade-ins from consumers.
With stay-at-home orders being lifted and business activities resuming normalcy, used car prices are picking up. The used vehicle market is likely to stay strong, going forward.
This e-commerce provider, digital advertiser, and online car seller all helped investors achieve triple-digit gains last year. How is 2020 stacking up?
If you had asked investors last week whether Vroom (NASDAQ: VRM) would be able to replicate Carvana's (NYSE: CVNA) meteoric 775% stock price increase over the past three years in a similar time frame, most would have scoffed at the possibility. No doubt Vroom has much work to do if it wants to chase down Carvana's ridiculous revenue and stock price growth -- remember that Carvana posted 23 consecutive quarters of triple-digit revenue growth through the third quarter of 2019 -- but Vroom's off to a fantastic start as it soared as high as 115% during its Tuesday initial public offering. COVID-19 has accelerated what Vroom and Carvana have already proven about consumers' desire to complete more of a vehicle purchase online, away from the dealership, using market-based pricing, guaranteed purchase offers, real-time financing, and vehicle delivery options.
Vroom joins Nasdaq and is off to an amazing start. With automotive e-commerce holding significant promise, investors are super thrilled about this online car seller.
After seeing shares of fellow online car dealer Carvana (NYSE: CVNA) soar in recent years, investors are clearly excited for Vroom to hit the market. The used car market is the single largest consumer product category in the U.S., making up $841 billion in annual sales last year, ahead of $683 billion in grocery sales and $636 billion in new car sales.
Hindsight is 20/20, but the high demand in Vroom's Initial Public Offering (IPO) was easy to predict, considering the compelling growth story -- especially as the company closely resembles Carvana (NYSE: CVNA), which has obliterated market returns with a meteoric 775% rise over the past three years. Vroom priced its IPO late Monday at $22 per share, up from its previous range of $18 to $20 per share, and it jumped over $47 per share during intraday trading. Vroom and Carvana, however, are uniquely positioned to thrive not only during the pandemic, but also during its aftermath, as the past few months have accelerated the way people use the internet for major purchases such as used vehicles.
What happened Shares of Carvana (NYSE: CVNA) rose 16.1% in May, according to data from S&P Global Market Intelligence, taking the stock from $80 per share to $93 per share. For context, that came on the heels of a massive rebound that had already lifted the stock up from its pandemic-plunge low of just $29 per share.
Carvana (NYSE: CVNA) is a fast-growing e-commerce platform for buying and selling used cars. Despite its solid performance, Carvana is still a very young company with huge growth potential that could last for the next five to 10 years. Carvana operates an integrated e-commerce platform that covers every aspect of used car retailing, including online sales, financing, logistics, inspection and repair centers, software development, and more.
Like many industries during the COVID-19 pandemic, the automotive industry has been hit hard. Despite the automotive industry's pain, one bright spot has been online buying platforms, such as Carvana, which offered consumers a way to shop for vehicles from home. Vroom plans to offer 18.75 million shares of common stock and expects a price range between $15 to $17 per share, generating between $281 million to $319 million in total proceeds.
Shares of Carvana (NYSE: CVNA), an online used-car buying platform that offers consumers a way to buy while obeying social-distancing restrictions, were soaring nearly 17% at 3:17 p.m. EDT on Tuesday likely due to a short squeeze. Carvana has a compelling growth story as the company continues to expand its reach across the U.S. with its online car buying platform, delivery options, and car vending machines. Short interest remains high, with 48% of Carvana's float sold short.
(Bloomberg) -- Steven Weinstein raised his first-quarter revenue expectations for Wayfair Inc. after scouring credit and debit card information from millions of Americans.Two weeks after his report was published in April, Wayfair reported quarterly net revenue of $2.33 billion, just $60 million shy of Weinstein’s estimate, which was higher than the consensus forecast of $2.28 billion. Shares in the online retailer have since risen about 100%.“We were able to identify Wayfair and their different brands and look at the amount of spending that is occurring,” said Weinstein, an analyst for M Science, a New York-based data-driven analytics firm. “And it showed a sharp acceleration exiting the quarter and made us optimistic.” The data, which has no personal information attached, is perfectly legal, he added.Once the preserve of hedge funds, alternative data or “alt data,” is becoming a must-have for banks, asset managers and government organizations as the pandemic creates a vacuum of timely information for investment decisions.“A large part of the power of alternative data is that it gives you a view into what’s going on almost in real time,” said Abraham Thomas, chief data officer at Quandl Inc., a Toronto-based data analytics firm.What Alternative Data Says On Global Downturn, Recovery: Bloomberg IntelligenceRestaurant reservations and data from transit apps that track how many people are checking bus and train schedules are among indicators giving economists and investors clues as to whether economies are reopening and how successful they have been.“Things are falling fast, things are normalizing potentially fast as well,” said Nikita Perevalov, director of economic forecasting at Bank of Nova Scotia. “Once various government officials start talking about reopening, we don’t know how to quantify it either it. So all of those weekly indicators can help us.”Perevalov is paying more attention to restaurant bookings, gasoline demand, electricity usage and coronavirus infection curves across U.S. states and provinces to help determine the only question that matters for markets right now: will the recovery be quick or slow?“You really have to have some more data at higher frequency,” Perevalov said.Kevin McCreadie, chief executive officer at AGF Management Ltd., who has been building out a quant team over the past four to five years, now has more than 20 people in North America focused on alternative data in order to help his portfolio managers. The group dubbed ‘AGFiQ’ includes software developers, analysts and portfolio managers who are all coders and PhD holders in fields spanning astrophysics, computer science, finance and economics.With Florida and Georgia among the first U.S. states to reopen in North America, restaurant data has been key for AGF as well, McCreadie said. Monitoring the number of people that go through checkpoints via data from Transportation Security Administration data will also provide information on whether activity is picking back up, he said.Reno ShiftMcCreadie believes alternative data is here to stay with more groups within the financial services industry like mergers and acquisition bankers beginning to use it. “I’ve heard people are doing due diligence using drones. Stuff we probably wouldn’t have done a year ago or two years ago,” he said.Corporate executives have been loath to give detailed outlooks with everything so uncertain.“There’s guidance provided in the data,” said Michael Marrale, chief executive officer of M Science, a unit of Jefferies Financial Group. “It’s there, you just have to figure out how to interpret it.”The firm studies data including sales from used-car dealers like Carvana Co. and CarMax Inc., where it has seen a bit of bounce recently, and digs into the types of restaurants that have done well during the pandemic like quick service and casual eateries.Nasdaq-owned Quandl is looking at whether there’s been a “virus-induced shift” in home renovations during the pandemic, with more fences being built compared with pools, Abraham said. The company also monitors car sales, foot traffic at malls, hours worked at small businesses and corporate hiring among other sources of information which it collates from its own proprietary data base and from external sources like Homebase and Womply.“Once you start using data as an investor, you don’t go back,” M Science’s Marrale said. “This is a watershed moment for alternative data.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
You've probably seen the commercials on TV of those massive vending machines that hold automobiles instead of snacks and beverages. Customers can search for cars, do virtual, 360-degree tours of the inside and outside, obtain financing from Carvana or a third party financial institution, and complete the entire purchase on the company's website. Cars can then be delivered directly to a buyer's home or can be picked up at one of the 24 previously mentioned vending machines that are located in major metropolitan areas across the U.S.
Carvana (NYSE: CVNA), Spotify (NYSE: SPOT), and Zillow Group (NASDAQ: ZG)(NASDAQ: Z) are three high-growth stocks that are just getting started. Carvana is the country's third-largest retailer of used cars, but its business model is completely different than that of traditional car dealers. For starters, it doesn't even have dealership locations.
Shares of Carvana (NYSE: CVNA) were pulling back today after the online used-car dealer announced a secondary offering, its second equity offering in less than two months, as the company seeks to improve its cash position during a volatile period. Carvana said last night that it would offer 5 million shares at a price range later revealed to be $93 to $96, bringing in close to $500 million in cash for the fast-growing used car dealer. Investors tend to dislike secondary offerings because they dilute current shareholders, but it's smart for Carvana to take advantage of the current lofty share price to recapitalize during an uncertain time.
Carvana Co. (NYSE: CVNA), a leading e-commerce platform for buying and selling used cars, today announced that it has commenced a public offering of its Class A common stock. Carvana is proposing to sell 5,000,000 shares of Class A common stock. The underwriters will offer the shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The last reported sales price of Carvana’s Class A common stock on May 18, 2020 was $98.59 per share.
Whenever internet commerce is mentioned, first thoughts often go to Amazon (NASDAQ: AMZN), the king of all e-commerce. Amazon is not only a great stock to own, but it's also a fearsome competitor. While it was the COVID-19 pandemic that finished that company off, it was internet retail that inflicted much of the damage that weakened it beforehand.
Shares of Cars.com (NYSE: CARS), KAR Auction Services (NYSE: KAR), and Carvana (NYSE: CVNA), are trading all over the map Thursday as Cars.com and KAR Auction are down 18% and 11%, respectively, while Carvana is up 10% on a wealth of earnings reports and a sign of optimism from Lyft (NASDAQ: LYFT). Carvana has had quite the trading day as it opened 10% lower before recovering to a 10% gain by Thursday afternoon.
Carvana launches 100 markets across 24 states, offering as-soon-as-next-day touchless home delivery with The New Way to Buy a Car™