Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months

Dow Jones2023-02-04

MW Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months

Shares of Carvana Co. (CVNA) pulled a sharp U-turn to trade higher in afternoon trading Friday, putting them on track to stretch their "meme"-like win streak to seven sessions. The online used car marketplace's stock was down as much as 9.1% at the intraday low of $12.95, but was up 0.2% at $14.28 in recent trading. If the stock closes up Friday, it would mark the longest win streak since the eight-day stretch that ended July 12, 2021. The stock has now rocketed 122.1% the past seven sessions. The stock had shown "meme"-like tendencies earlier this month, amid a relatively high short-interest position in the stock, and the company also adopted a shareholder rights plan ("poison pill") to block investors for taking advantage of the stock's weakness to buy up a large stake. Short-interest, or bearish bets on the stock, represented 59.7% of the public float, according to the latest exchange data, or shares available for public trading. That compares with that of the original "meme" stocks, with short-interest as a percentage of public float at 23.5% for GameStop Corp. $(GME.AU)$ and AMC Entertainment Holdings Inc. $(AMC)$ at 22.6%.

-Tomi Kilgore

(END) Dow Jones Newswires

February 03, 2023 14:11 ET (19:11 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2308939858?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-02-04 03:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2308939858","market":"hk","top_or_hot":-1,"title":"Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months\n</p>\n<p>\n  Shares of <a href=\"https://laohu8.com/S/CVNA\">Carvana Co.</a> (CVNA) pulled a sharp U-turn to trade higher in afternoon trading Friday, putting them on track to stretch their \"meme\"-like win streak to seven sessions. The online used car marketplace's stock was down as much as 9.1% at the intraday low of $12.95, but was up 0.2% at $14.28 in recent trading. If the stock closes up Friday, it would mark the longest win streak since the eight-day stretch that ended July 12, 2021. The stock has now rocketed 122.1% the past seven sessions. The stock had shown \"meme\"-like tendencies earlier this month, amid a relatively high short-interest position in the stock, and the company also adopted a shareholder rights plan (\"poison pill\") to block investors for taking advantage of the stock's weakness to buy up a large stake. Short-interest, or bearish bets on the stock, represented 59.7% of the public float, according to the latest exchange data, or shares available for public trading. That compares with that of the original \"meme\" stocks, with short-interest as a percentage of public float at 23.5% for GameStop Corp. <a href=\"https://laohu8.com/S/GME.AU\">$(GME.AU)$</a> and AMC Entertainment Holdings Inc. <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a> at 22.6%. \n</p>\n<p>\n  -Tomi Kilgore \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 03, 2023 14:11 ET (19:11 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCarvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-04 03:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MW Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months\n\n\n  Shares of Carvana Co. (CVNA) pulled a sharp U-turn to trade higher in afternoon trading ...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4214","symbol_name":"汽车零售","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2308939858","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2308939858","pubTimestamp":1675451460,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MW Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4214":"汽车零售","BK4577":"网络游戏","BK4108":"电影和娱乐","BK4547":"WSB热门概念","AMC":"AMC院线","GME":"游戏驿站","BK4503":"景林资产持仓","BK4076":"电脑与电子产品零售","CVNA":"Carvana Co.","BK4548":"巴美列捷福持仓"},"translate_title":"类似Carvana“meme”的股票大幅反弹，有望实现19个月来最长的连胜纪录","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVNA":1,"AMC":0.9,"GME":0.9},"content_text":"MW Carvana 'meme'-like stock bounces back sharply, putting it on track for longest win streak in 19 months\n\n\n  Shares of Carvana Co. (CVNA) pulled a sharp U-turn to trade higher in afternoon trading Friday, putting them on track to stretch their \"meme\"-like win streak to seven sessions. The online used car marketplace's stock was down as much as 9.1% at the intraday low of $12.95, but was up 0.2% at $14.28 in recent trading. If the stock closes up Friday, it would mark the longest win streak since the eight-day stretch that ended July 12, 2021. The stock has now rocketed 122.1% the past seven sessions. The stock had shown \"meme\"-like tendencies earlier this month, amid a relatively high short-interest position in the stock, and the company also adopted a shareholder rights plan (\"poison pill\") to block investors for taking advantage of the stock's weakness to buy up a large stake. Short-interest, or bearish bets on the stock, represented 59.7% of the public float, according to the latest exchange data, or shares available for public trading. That compares with that of the original \"meme\" stocks, with short-interest as a percentage of public float at 23.5% for GameStop Corp. $(GME.AU)$ and AMC Entertainment Holdings Inc. $(AMC)$ at 22.6%. \n\n\n  -Tomi Kilgore \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 03, 2023 14:11 ET (19:11 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2308939858"}