Carvana stock soars as traders bet on Fed rate cut
1:01
MSNBenzinga
Carvana stock soars as traders bet on Fed rate cut
Carvana climbed as traders priced in a near-90% probability of a Fed rate cut, a shift that would lower auto-loan APRs and expand the company’s demand base. Wedbush upgraded the stock to Outperform with a $400 target, citing expectations for more than 20% annual unit growth. Lower rates also reduce Carvana’s floorplan costs and boost ...
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