No. of Recommendations: 2
YTD
KMX -45%
CVNA +85%
Anecdotal: we just bought a new EV and wanted to dispose of our old Chevy Bolt. Very good shape, 77k miles.
Chevy dealer trade in offer $6,000
Carmax $7,000
Carvana $11,400 and they will pick it up from my house today for $90.
How do they do it?
Carvana posted its Q4 earnings today which the market seems to dislike, with the share price down from $361 to $306, down from $395 October 1st. In the meantime, Carmax has rallied from $46 on October 1st to as low as $32 after their Q3 results, and now back to $46. So maybe the shenanigans are finally starting to catch up to Carvana, and if they fail, this would breathe some extra life into Carmax.
