In recent months, e-commerce and auto-retail stocks have been on a roller coaster. After plummeting through 2022, used-car sellers staged a comeback as record sales drove Carvana (CVNA) to 2025 profits. Carvana, in fact, became 2025’s top-performing auto retailer stock, more than doubling in price on surging revenue and unit growth. With growth stocks cooling off in early 2026, Carvana’s rally has petered out a bit, and traders are asking: Was it all hype?
Now Carvana’s board has approved a 5-for-1 split (pending shareholder vote) to “make whole shares more accessible” after that run. Let’s unpack what that means for CVNA.
