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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Carvana Co | NYSE:CVNA | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
7.03 | 9.07% | 84.53 | 84.51 | 77.00 | 77.95 | 4,904,619 | 00:57:58 |
By Kathryn Hardison
Carvana Co. shares dropped 18% to $25 on Tuesday following a price target cut from Stifel.
Stifel lowered its price target to $34 per share from $48 per share while maintaining a hold rating, analysts said.
Last week, Barron's reported that the online used-car dealer is struggling to match its pandemic-era sales pace because it is delayed in registering cars for its customers. Carvana said the delays involved internal paperwork problems, and slow work by third-party registration services and state motor vehicle agencies.
Shares were 89% lower for the year.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 28, 2022 16:10 ET (20:10 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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