Carvana Stock Plunges Thursday, Deepening Its Recent Rout. Here’s Why

Key Takeaways Carvana shares tumbled Thursday after the online car marketplace reported some fourth-quarter profit metrics that came in below expectations. The company said some costs came in higher than anticipated, and warned it could face elevated vehicle reconditioning costs in the first quarter. Carvana stock backed into reverse on Thursday. Shares of Carvana (CVNA) dropped 8% close to just under $333, a day after the online used car marketplace reported weakness in some key profitability metr ...