Carvana Fell Nearly 5% in Morning Trading

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Carvana Fell Nearly 5% in Morning Trading

Tiger Newspress2023-07-27

Carvana Co. fell nearly 5% in morning trading.

Morgan Stanley downgrades it to underweight from equal weight. The company said the stock has gone too far too fast.

“We think much of the rally is deserved but the stock has run well above our increased target driving a less favorable risk-reward vs. our coverage.”

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