By Christiana Sciaudone
Investing.com – Carvana Co (NYSE 🙂 cannot keep up with demand. Shares rose more than 22% on Thursday after the company saw the strongest demand to date and expected long-term opportunities greater than expected.
The share is at a record level and has more than tripled since March.
However, the inventory at the used car dealer is low and the sales volume is determined by the production capacity.
Second quarter sales increased 13% to $ 1.1 billion and retail units sold increased 25% to $ 55,098. The loss per share of 62 cents is compared to the average expected loss of 79 cents.
The stocks have 11 buy ratings, 4 holds and no sells with an average target price of $ 158.57.
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