Carvana (CVNA) shares closed in the green on March 13 after the online used car retailer announced a 5-for-1 forward stock split — its first since inception in 2012. The announcement arrives just weeks after the company reported market-beating results for its Q4 on higher-than-expected vehicle sales.
Carvana stock has still been in a sharp downtrend amid broader market weakness. At the time of writing, it’s down about 38% versus its year-to-date high in late January.
