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- 1 NYSE: CVNA stock lost $2.52 of its trading price on the August 24 trading session.
- 2 In the 52-week time frame, CVNA stock’s highest traded price is $57.19, and the lowest is $3.55.
- 3 Carvana Co’s market capitalization has declined significantly in the past 18 months from $62 Billion to $7 Billion.
NYSE: CVNA stock lost $2.52 of its trading price on the August 24 trading session. It opened at $40.47, went as low as $36.80; the high was $40.84 and the closing price was $37.76 with an intraday trading volume of 7.427 Million. Carvana Co has a market capitalization of $7.153 Billion, and its share average trading volume is $8.119 Million.
At press time, Carvana Co shares were trading below its annual price target of $42.88. The price target is 13.57% greater than its current trading price. In the monthly time frame, CVNA stock declined over 18.53%.
Carvana Co (CVNA Stock) Price Analysis
In the August 24 trading session, sellers were more active than buyers. Immense selling pressure dragged CVNA’s trading price by 6%. Despite intraday losses, the stock price might open above its previous closing price.
CVNA stock price was trading above $52 till August 04, and after that the price declined. Over a few days, there was an18% drop; the price went below $40.
If selling pressure remains aggressive, then Carvana stock may fall further and face immediate support of $36.19 and possibly following support of $32.22.
Suppose sellers need to maintain their dominance over buyers. In that case, there are possibilities that CVNA stock might surge in the upper direction and face immediate resistance of $41 and possibly the next resistance of $44.64.
At the time of publishing, Carvana’s stock price was trading above the 50-day and 200-day exponential moving averages. However, at the same time, it was trading below 20 days EMA which was at $40.36.
Despite short-term losses, CVNA’s share price gained by 246.74% in the quarterly time frame. In the past six months, the price surged over 324%. As per market analysts, if the stock price falls below the 20-day exponential moving average, then there are possibilities that extreme buying pressure might be reflected.
Carvana Co Earnings & Revenue
In Q1 2023, Carvana Co was supposed to report $2.64 Billion, but depressing its investors, the company reported 1.18% less revenue than estimated figures. Despite minute losses in the first quarter, the company succeeded in impressing its financial backers and consumers by reporting 13.84% more revenue than estimated figures.
As per analysts, it is yet to release its third and fourth quarter revenue, and as per estimation, it might report $2.77 Billion in Q3 and approximately $2.70 Billion in Q4 2023.
Earnings per share of the company reflected positive growth in both Q1 & Q2. In the first quarter, reported EPS was 28.99% greater than the estimated value, and in the fourth quarter, reported EPS surged by over 53.46%.
In the financial year 2022, Carvana Co reported $13.60 Billion in revenue from which its gross profit was 7%, earnings before interest, taxes, depreciation, and amortization (EBITDA) was -9%, earnings before interest and taxes (EBIT) was -11%, and its net income was -12%.
In August 2021, Carvana Co had to have a market capitalization of $62.3 Billion. The company lost over 70% of its market capitalization Since August 2021.
Technical Levels
Support Levels: $36.19 and $32.22
Resistance Levels: $41 and $44.64
Conclusion
Carvana Co’s market capitalization has significantly declined in the past 18 months. In August 2021, the company had a market capitalization of $62.3 Billion and at press time, it was $7.125 Billion. However, CVNA stock price is trading moderately above the 50-day and 200-day exponential moving averages. As per analysts, if the price declines below the 20-day EMA, then intense buying pressure may be seen in the coming sessions.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
