Shares of Carvana Co. CVNA rallied more than 10% in midday trading Wednesday, on track for their highest close since Sept. 28, and up nearly 30% in the past two sessions. The stock has been on a tear since it reported a narrower quarterly loss in early May, when it also said it expects to reach positive adjusted EBITDA in the current quarter. Carvana stock is up 107% in June, and 465% year-to-date, which compares with an advance of around 14% for the S&P 500 index.
... Shares of Carvana Co. CVNA rallied more than 10% in midday trading Wednesday, on track for their highest close since Sept. 28, and up nearly 30% in the past two sessions. The stock has been on a tear since it reported a narrower quarterly loss in early May, when it also said it expects to reach positive adjusted EBITDA in the current quarter. Carvana stock is up 107% in June, and 465% year-to-date, which compares with an advance of around 14% for the S&P 500 index.