Does Carvana (CVNA) Have a Large Runway for Expansion?

Core Insights - Optimist Fund reported a return of +9.1% in Q3 2025, outperforming the benchmark return of 7.9% [1] - The fund is focusing on cyclical holdings that have been in multi-year downswings while also paying attention to developments in AI [1] Company Performance: Carvana Co. (NYSE:CVNA) - Carvana Co. experienced a one-month return of -18.80% but saw a 52-week gain of 33.17%, closing at $305.07 per share with a market capitalization of $35.677 billion on October 30, 2025 [2] - The company achieved record highs in key financial metrics, with retail units sold increasing by 41% year over year to 143,280 vehicles and total revenue rising by 42% to $4.84 billion [3] Hedge Fund Interest - Carvana Co. was held by 91 hedge fund portfolios at the end of Q2 2025, an increase from 90 in the previous quarter [4] - Despite the interest, some analysts believe that certain AI stocks present greater upside potential and less downside risk compared to Carvana Co. [4]