Carvana Co. Class A (CVNA)

Carvana's stock has experienced significant volatility in the past six months (August 2025 - February 2026). In Q3 2025, Carvana reported strong results and was included in the S&P 500 index in early December 2025. In late January 2026, Carvana's stock tumbled after short-seller Gotham City Research alleged that Carvana overstated its earnings and relied on undisclosed related-party transactions. Carvana is expected to release its Q4 2025 earnings on February 18, 2026.

Carvana's business experiences demand seasonality, with the fourth quarter typically being the slowest. Historically, the first quarter has also been seasonally weaker for retail unit sales, although Carvana achieved an all-time sales record in Q1 2025. Analysis suggests a period of seasonal strength from May 24 to August 16, but only 8 years of data are available.

Carvana Co. is an e-commerce platform specializing in buying and selling used cars in the U.S., founded in 2012. It aims to transform the car-buying experience through a convenient, transparent, and technology-driven online model. Carvana operates within the Consumer Cyclical sector and the Online Car Dealers and Used Car Dealers industries. Its business model encompasses all aspects of used-car retailing, generating revenue from retail sales and ancillary products like financing and insurance. The company is also known for its automated vehicle vending machines.

Carvana has a significant presence across the United States. As of November 2023, its "as-soon-as-next-day" delivery service was available in over 300 markets nationwide. The company has also been expanding its same-day delivery capabilities, with 35% of the U.S. population residing in markets where this service is potentially available. Carvana's initial market operations and first vehicle sale took place in Atlanta, Georgia, in 2013, and it currently operates over 30 vehicle vending machines in the U.S.

Carvana's brand reputation has been significantly influenced by its stock performance and allegations from short sellers in the past year (February 2025 - February 2026). Carvana's stock surged over 60% year-to-date by June 2025, and the company achieved record unit sales in Q1 2025. Short-seller reports from Gotham City Research in January 2026 have negatively impacted Carvana's reputation, accusing the company of overstating profits and engaging in questionable related-party transactions.

Carvana Co. has a substantial number of institutional owners and shareholders. Key institutional shareholders include Vanguard Group Inc., T. Rowe Price Associates Inc /md/, and BlackRock, Inc. Ernest Garcia II, the father of Carvana's CEO, is Carvana's largest individual shareholder. Insider sentiment for Carvana is currently negative, driven by significant open-market selling from key executives.