Why Is Carvana (CVNA) Stock Up 42% Today?

Carvana (NYSE:CVNA) stock is soaring higher on Friday after the used car e-commerce company posted record positive results in its latest earnings report.First, investors will note that Carvana reported adjusted EPS of -$1.75 alongside revenue of$2.42 billion for Q4 2023. These are both below Wall Street’s estimates of -92 cents per share and revenue of $2.55 billion.Even so, traders are excited as the company has been improving its profitability over the last year. That resulted in it reporting a net incom ...