Carvana, the ‘Amazon of Used Cars’, Becomes a Hot Meme Stock

Published by
The Street

By Luc Olinga The seller of used cars online has just experienced a crazy stock market week reminiscent of the phenomenon of meme stocks. It’s been a very eventful start to the year for Carvana shareholders. ‘The Amazon of used cars’ has been experiencing a stock market frenzy since the beginning of the year. Carvana shares ended the year on Dec. 30 at $4.74. The decline was around 97% over the whole year. Basically, the year 2022 had been a real drain for shareholders of the firm which aims to change the way we buy and sell cars. As a result, it’s no surprise that speculations about the compa…

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