Carvana stock is falling in Wednesday trading, following a BofA Securities downgrade. The move comes after the stock has swooned 97% so far this year, although BofA isn’t alone in riding the used-car seller’s decline.
Analyst Nat Schindler cut his rating on Carvana stock (ticker: CVNA) to Neutral from Buy, and slashed his price target to $10 from $43. He writes that the move comes after Moody’s cut the company’s debt rating to negative last week.
Source: finance.yahoo.com
Related posts:
Grant Cardone Says Earning $400,000 A Year Would 'Embarrass' Him As A Husband, Father And Human Bein...
AMD CEO Debuts Nvidia Chip Rival, Gives Eye-Popping Forecast
US IRS to allow full digital document submissions for 2024 tax season
Chipotle Shareholders Approve Its Historic 50-for-1 Stock Split. Here's What Happens Next.
Can I Apply for an Ex-Spouse's Social Security Benefit?