Overview
- Carvana jumped roughly 7%–10% on Monday, hitting intraday highs near $438 and extending a multi-session rally to fresh records.
- S&P Dow Jones Indices confirmed Carvana will enter the S&P 500 with CRH and Comfort Systems USA in the quarterly rebalancing that removes LKQ, Solstice Advanced Materials and Mohawk Industries.
- Carvana’s market value now exceeds Ford and General Motors, reflecting a 10,000%+ rebound from late‑2022 lows.
- Recent fundamentals underpin the rerating, including Q3 results of 155,941 retail units, $5.647 billion in revenue, $637 million adjusted EBITDA and $263 million net income, alongside analyst targets such as BofA’s $455 and JPMorgan’s $425.
- Valuation remains stretched and debate persists, with Benzinga’s data flagging a bottom‑decile value score, reports of early‑December insider sales above $30 million, and ongoing short‑seller skepticism disputed by the company.