Market Updates
Carvana Plunged 9% on Cautious Research Note
Scott Peters
05 Apr, 2022
New York City
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Carvana plunged 9% after an RBC Capital analyst downgraded the stocks and highlighted that the company is expanding at a faster pace than the sales growth. The online auto retailer is expected to sell about 550,000 vehicles in 2022 against the expanded capacity of 3.3 million. Moreover, the recent Adesa car auction service may face integration risks.
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