by Ian Cooper

Carvana is still exploding.

And it could easily see higher highs.

Since bottoming out at $3.62, the stock is now up to $32.30 and could see higher highs. For one, the company recently said it now expects to achieve adjusted EBITDA above $50 million in the second quarter of 2023. Two, analysts love the stock. DA Davidson raised its price target to $18 from $7. Citi raised its target to $25 from $11. 

Three, with strong consumer demand for EVs, the company just said, “Carvana offers more than 46 EV makes and models, with more than 40% of our EV options under $25,000,” said Kevin Fitzgerald, Carvana Director of Inventory Purchasing. “Carvana’s digital leadership and customer focus is poised to support more of America’s growing interest in EVs and all vehicles through our proven auto e-commerce platform for buying, selling, and trade-ins.”

We mentioned CVNA as an opportunity on June 13 here, as it traded at $23.51. It’s now up to $32.67 and accelerating.

It is exciting to be in trades in stocks like CVNA, but I realize it isn’t always easy.

I keep my emails like this short so you can read them quickly but there are many steps to placing these trades. I want to make sure you have the help you need and get you the answers to questions that may stop you at any point in the trading process.

If you are looking for that kind of help, click here.