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Carvana stock extends ‘meme’-like surge, heads toward longest win streak in 4 months

Clyde Edgerton by Clyde Edgerton
January 31, 2023
in Markets
Carvana stock extends ‘meme’-like surge, heads toward longest win streak in 4 months
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Shares of Carvana Co. continued their “meme”-like surge Tuesday, rallying 10.0% toward a 2 1/2-month high in premarket trading despite no official news released. The online used-car retailer’s stock had run up 53.9% over the past two days, and 55.5% amid a three-day win streak through Monday. The stock also showed meme-like tendencies earlier this month, soaring 81.7% in two days to Jan. 12, as short interest, or bearish bets on the stock, reached record highs. Short interest as a percent of float, or shares available for public trading, was 59.7% as of the latest exchange data, which is more than double the percentages…



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Clyde Edgerton

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