Carvana (CVNA) is on fire.
After being left for dead months ago, the stock is roaring higher.
And it could see higher highs.
Analysts at Raymond James upgraded the stock to a Market Perform rating after recent earnings saw CVNA inching closer to profitability. In its fourth quarter, Carvana posted a total gross profit per unit of $5,283, a $3,063 jump year over year. Also, in its current quarter, Carvana expects to see adjusted EBITDA “significantly” above $100 million.
“While 4Q23 was in line with our expectations, we are raising our 2024 adj. EBITDA forecast to reflect better-than-expected GPU trends QTD in 1Q24,” added Raymond James, as quoted by Seeking Alpha.
From its current price of $85.86, we’d like to see CVNA closer to $100.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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