Carvana shares see huge gains on gradually improving sales

Posted at 8:02 AM, Jun 03, 2020
and last updated 2020-06-03 11:02:48-04

Shares of Carvana Co. climbed higher Tuesday after a pair of research firms posted new data showing the Tempe online auto retailer saw improved sales as a result of car buyers making more purchases as stay-at-home orders eased around the country.

The data was released by New York-based M Science and YipitData.

Carvana shares reached as high as $110.50 in early trading on June 2, and finished the session up $17.27, or 18.8%, to close at $109.12.

In early trading on Wednesday, the shares continued upward, adding $2.17, or 2%, to $111.29. Track the stock here.

Read more from the Phoenix Business Journal.