Two years ago, it appeared Carvana's future was full of empty used-car vending machines. The online auto retailer's stock was near worthless, fueled by massive financial losses and legal problems related to vehicle titles in numerous states. With billions of dollars in debt, bankruptcy seemed inevitable. But in November 2024, a restructured Carvana reported a net income of $148 million. And now stocks are selling at approximately $191 per share.
