Carvana (NYSE: CVNA) delivered a genuinely impressive Q1 2026 earnings report that included a record number of units sold.
However, in the two months following the report, CVNA is down approximately 15% despite favorable analyst sentiment. That includes a 10% drop on June 17 in sympathy with cost commentary from CarMax (NYSE: KMX), even though Carvana's own unit economics are moving in the opposite direction.
