Why Carvana Stock Motored Higher on Monday

Say hello to the latest component of the most high-profile equity index on the market.It isn't every day that a stock gets to be a component of a hallowed equity index. On news Monday that auto retailer Carvana (CVNA +12.06%) had achieved such a distinction, investors eagerly traded its shares up by more than 12% that trading session. Acceleration from ascensionOn Friday after market hours, news hit the headlines that Carvana had been selected to join the bellwether S&P 500 index. This was one of a series o ...