If you happened to own a stake in Carvana (CVNA 1.36%) prior to Wednesday morning’s release of its second-quarter results, congratulations! Shares jumped another 40% that day, and most of that gain remains intact.
If you’re sticking with the stock because the company is clearing $6,520 worth of gross profit for every used car it sells to retail customers, however, you may want to reconsider. The number’s more than a little misleading.
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Kudos to Carvana for…
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