Carvana Stock Price, News & Analysis

Carvana Co. (NYSE: CVNA) has adopted a shareholder rights plan to protect its net operating loss carryforwards (NOLs) and other tax attributes. This Tax Asset Preservation Plan aims to prevent an "ownership change" under IRC Section 382, which could limit the company's ability to utilize its significant U.S. federal NOLs. The plan restricts any person or group from acquiring 4.9% or more of Carvana's Class A common stock. It will remain in effect until January 15, 2026, unless terminated earlier. This initiative is aligned with similar strategies adopted by other public companies to safeguard valuable tax assets.

Carvana has launched a nationwide sweepstakes offering fans a chance to join Jimmie Johnson in Daytona Beach, Florida, during one of the biggest racing events. The sweepstakes runs from January 11 to January 23, 2023, allowing participants to win a VIP experience package, which includes flights, lodging, and a meet-and-greet with Johnson. This initiative underscores Carvana's commitment to enhancing fan engagement and its support for Johnson as he competes in the NASCAR race this year.

Carvana (NYSE: CVNA) is sponsoring the Professional Pickleball Association (PPA) in 2023, featuring 25 tour stops, starting with the Hyundai Masters in Rancho Mirage, California, from January 12-15. The company is introducing the Carvana Court Fan Zone at eight events, enhancing fan engagement with games and prizes. Carvana aims to leverage pickleball's growth, attracting new fans and promoting its online car retail services. This initiative is part of Carvana’s commitment to creating joyful experiences beyond car sales.

Unfortunately, the press release containing important information about CVNA has been deleted by the news provider, rendering it unavailable for analysis.

Carvana (NYSE: CVNA) is expanding its services to Corvallis, Oregon, offering as-soon-as-next-day touchless home delivery for used cars. Customers can conveniently shop, finance, and schedule delivery online in as little as five minutes. Each vehicle comes with a 7-day return policy and a comprehensive 150-point inspection. This move increases Carvana's delivery reach to 316 cities across the U.S. Founder and CEO Ernie Garcia expressed confidence that Corvallis residents will value this convenient buying experience.

Carvana Co. (NYSE: CVNA) reported Q3 2022 results with revenue of $3.386 billion, down 3% year-over-year. The company sold 102,570 retail units, reflecting an 8% decrease from the previous year. Despite revenue declines, Carvana reduced SG&A expenses by $89 million quarter-over-quarter. CEO Ernie Garcia highlighted progress towards operational efficiency and profitability amid challenging market conditions. The company will hold a conference call on November 3, 2022, to discuss its financial performance.

Carvana (NYSE: CVNA) has improved its vehicle financing process by allowing Cincinnati residents to add a co-signer. This new option enables borrowers to access better financing offers, such as lower down payments and interest rates. The co-signer feature enhances affordability for new drivers and young adults aiming to build credit. Carvana is recognized as the second-largest automotive brand in the U.S. and serves over 80% of the population across 300 markets.

Carvana (NYSE: CVNA) has introduced a co-signer option for vehicle financing, aimed at Cleveland residents. This feature allows customers to apply with a co-signer, potentially unlocking better financing terms such as lower down payments and interest rates. The process is user-friendly, with both parties applying online without impacting credit scores. As Carvana continues to enhance the car-buying experience, its recognition as the second largest used automotive retailer in the U.S. underscores its growth and customer-centric approach.