Carvana Company (CVNA) has taken investors on a roller-coaster ride since its initial public offering (IPO) in April 2017. Soon after its listing at $15 per share, Carvana stock was trading down at $11 - then went on to touch a record high above $376 in August 2021.
The bear market of 2022, coupled with company-specific concerns about a potential bankruptcy filing, dragged shares of the used-car retailer to less than $5 in December 2022. CVNA currently trades just below $32, valuing the company at $6.39 billion by market cap.
