Up 2,000% in 2 Years, Is Carvana a No-Brainer Stock to Buy Hand Over Fist With $500 Right Now?
Carvana (NYSE: CVNA) has been a polarizing stock in the past. It went from winning over investors in remarkable fashion to seeing its share price nosedive to now trending back in the right direction. This growth tech stock is up a jaw-dropping 2,000% in just the past two years (as of April 11). However, it still trades 45% below its peak, a milestone that was reached in August 2021. If you have $500 to invest, should you be buying shares of Carvana right now? It's worth diving deeper into the top bull and bear arguments to decide. It's not surprising to hear that consumers might not be fans of the typical car-buying process. It takes a lot of time, there's uncomfortable haggling that happens with a salesperson, inventory on the lot is limited, and pricing might not be transparent.Continue reading
Carvana (NYSE: CVNA) has been a polarizing stock in the past. It went from winning over investors in remarkable fashion to seeing its share price nosedive to now trending back in the right direction. This growth tech stock is up a jaw-dropping 2,000% in just the past two years (as of April 11).
However, it still trades 45% below its peak, a milestone that was reached in August 2021. If you have $500 to invest, should you be buying shares of Carvana right now? It's worth diving deeper into the top bull and bear arguments to decide.
It's not surprising to hear that consumers might not be fans of the typical car-buying process. It takes a lot of time, there's uncomfortable haggling that happens with a salesperson, inventory on the lot is limited, and pricing might not be transparent.
