Carvana stock rebound boosts fortunes of CEO and his dad by billions [FOX Business Network]
Carvana Co. Class A (CVNA)
Last carvana co. class a earnings: 2/26 04:05 pm
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Source: FOX Business Network
The resurrection of Carvana's stock price from its 2022 lows has amounted to a monumental rise in the fortunes of its chief executive and his father. CEO Ernie Garcia III, who co-founded the company, and his father, Ernie Garcia II, who bankrolled it, have seen a combined $11 billion increase in their net worths since December 2022, thanks to a 3,000% increase in share price from that time, Bloomberg reported Thursday. When the Carvana stock hit its low point, there were murmurs that the online used car dealership was headed for bankruptcy court, falling after a titanic rise during the pandemic. But the company appears to have righted the ship – at least for now – after restructuring its operations and debt since that time. Carvana stock surged this week after the company forecast a surprise rise in current-quarter retail sales and core profit, sending shares up 34% on Thursday. With that boost, Bloomberg reported, the older Garcia's net worth hit $10.9 billion, up from $3.1
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News
- Used car sales booming as holdout buyers return: Edmunds [FOX Business Network]FOX Business Network
- Carvana Co. (NYSE: CVNA) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $135.00 price target on the stock.MarketBeat
- Are You Looking for a Top Momentum Pick? Why Carvana (CVNA) is a Great Choice [Yahoo! Finance]Yahoo! Finance
- Carvana Marks Second Anniversary of ADESA Acquisition with New Integration and Performance MilestonesBusiness Wire
- Carvana Confirms Federal Legality of e-Signatures on Odometer Disclosure Documents with NHTSA Letter of InterpretationBusiness Wire
CVNA
Earnings
- 5/1/24 - Beat
CVNA
Sec Filings
- 5/16/24 - Form 4
- 5/14/24 - Form SC
- 5/14/24 - Form 4
- CVNA's page on the SEC website