Carvana stock facing potential short squeeze as rare pattern emerges

1,160%. That’s how much shares of used car retailer Carvana (NYSE: CVNA) skyrocketed in 2023 – from $4.6 to$58.2 at the time of publication on December 21. CVNA YTD price chart. Source: FinboldAlthough the company did report some positives in its recent quarterly reports, this meteoric rise is largely attributed to the so-called “short squeeze.” This refers to a phenomenon when a stock’s price rapidly rises, forcing investors who had bet against (shorted) the stock to buy it to cover their losses, amplifyi ...