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Key takeaways
- Carvana’s Q2 earnings unveiled narrowed losses and better-than-expected revenue
- The used car seller has also announced a $1.2 billion debt restructuring deal with its bondholders
- The subject of several short squeezes this year, Carvana stock was up 40% on Wednesday at the news
Carvana: online used car retailer, meme stock and shorted on the stock market. The stock caught social media interest for all the wrong reasons, but its latest second-quarter earnings beat has given investors a glimmer of hope.
With a record quarterly profit, narrowed losses on earnings per share and a chunky debt restructuring deals in the works, Carvana is looking to return to the heady highs of its 2021 share price. Can it go all the way, or is the company doomed to languish? Let’s take a look.
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