Carvana ($CVNA) is experiencing significant market activity, with its stock nearing a 26-month high and achieving its best year-over-year weekly sales comparison since 2022. The stock has recently cleared the $125 mark, with large purchases of July $125 calls indicating strong investor interest. Despite this, there are concerns about potential losses in Q2 2024 due to its holdings in Root ($ROOT), which had previously boosted earnings in Q1 2024. Additionally, there have been reports of insider selling, and some market participants are anticipating a potential guidance raise before the next earnings announcement.
$CVNA new 52 weeks high about to happen
$CVNA keeps going now clearing 125 and large buys today for 2500 July $125 calls into strength
$CVNA @ $125 now Break of $129 will be breakout and we will see some buying as everyone would want to be in 👇 https://t.co/ksskM30krR
$CVNA nearing a 26 month high close today... One of the great turn around stories in stock market history. One of them...
$CVNA $124-125 will hit and stall for few days to reset overbought conditions and then potential take out $129 Early announcement / pre-announcement or potential raise guidance possible before Earnings Quarterly/Monthly has lots of room upside..
+100% on this so far. $CVNA just posted best YoY weekly sales comp since 2022, definitely ahead of Q2 expects and likely continue similar growth into Q3. https://t.co/miHZzsQeRs
Insider selling at $CVNA daily https://t.co/0RPllKhzot
$CVNA keeps pushing, no news. Not sure why but IV is creeping up and volume is coming in. Opened a small pos short 125C to put it on the screen. Will keep an eye on it. https://t.co/TRSyhIYlLa
$CVNA Solid Call 👏 https://t.co/TpiQDM4Ezo
$CVNA gonna take a big hit in 2Q24 increasing its losses on its $ROOT holdings that boosted it earnings lie in 1Q24. https://t.co/mHUzLlIW1p
$CVNA is going to be again a wonderful short op when this uptrend breaks. $CVNAQ https://t.co/d5SoxqTxEk
Used car disruption🤡 No customers but magically earnings are improving!! $CVNA https://t.co/t4jPLFR993