Carvana Co traded at $67.91 this Wednesday June 24th, increasing $3.08 or 4.75 percent since the previous trading session. Looking back, over the last four weeks, Carvana gained 6.97 percent. Over the last 12 months, its price fell by 6.97 percent. Looking ahead, we forecast Carvana Co to be priced at 65.19 by the end of this quarter and at 61.24 in one year, according to Trading Economics global macro models projections and analysts expectations.
Carvana Co. is a holding company. The Company operates an e-commerce platform for buying and selling used cars. The Company primarily acquires used vehicle inventory directly from customers, used car auctions, and wholesale used vehicle suppliers, including retail marketplace partners. Once it acquires a vehicle, the Company leverages its in-house logistics network or a vendor to transport the vehicle to one of its inspection and reconditioning centers (IRC) or auction locations with reconditioning capabilities, at which point the vehicle enters its inventory management system. The Company offers a mobile-optimized Website, where prospective retail car buyers can immediately begin browsing, researching, filtering, and identifying their vehicle of choice, where it offers an annotated virtual vehicle tour, which includes a 360-degree view of the interior and exterior of the actual vehicle. The Company also offers integrated financing using its loan origination platform.