Friends, investors, I'd like to break down Carvana $CVNA
The last post on it here was about a month ago and it has once again made some upward progress, although there was some correction on it today. Let's pour some clear wine though please and this really isn't just a strong fundamental eh? 😁
Carvana Co $CVNA is dedicated to operating an online used car buying platform that allows customers in the United States to buy, finance and sell or trade cars.
So I'm an automotive "troll" but such a spike in share price? I've been in stock investing for a year, not a great amount of time, I'm still learning quite a bit, I have respect for it and I keep a psyche that makes me pretty comfortable over my portfolio, but of course, I'd like more and I'd like to understand some things about the market that probably aren't talked about that much.
It also reminds me quite a bit of what's going on around Gamestop $GME, which is also the subject of a little series on Netflix called "How to butter your piggy bank". I recommend to watch it if you don't know! 😊 I've already watched it twice and feel free to discuss it too, your opinions.
I get it, just how many times we get stocks acting like they're just hyped up by something, whether like now, the bubble around AI, or back then Gamestop, that influencers started driving it on social media with over-promotion and investors were jumping in, then one day the ability to buy from a broker stopped under the panic it crashed. That's the story.
But what's the real story, let's wonder if anyone knows anything else? Because although I believe used cars are going up, I have a used car myself, but for the stock to fall from a peak of about $370 to $5 and then climb 900% again ...🤷♂️ I mean I didn't see any boom around it, that it was being promoted and everyone was buying to get the price up like that even though yes its been better recently.
I'll be glad for any insights and opinions on these events. 😊
Otherwise, thanks again for a nice and useful post. I like these posts, they are just short enough and there is useful information in it.
I don't know the company much, but the chart looks very similar to Gamestop's chart. I've seen the little Netflix series on Gamestop and it's great. There's a lot of interesting information in the series and it's interesting how it all went down.
I will only follow the company and the development of this company's stock from afar.
I don't know the company but that chart is screaming "don't buy me!" :-D
CVNA is not for me at all, and I like to speculate now and then. I honestly expected this company to be over soon, but somehow they've recovered again. And investment wise it's easy, they have negative EPS and negative net profits, nothing for me here, uninvestable for now and only speculators are riding on it.