On June 5, Carvana Co. rose 3.41% in regular trading, trading at $67.26/share, with trading volume of $112 million. The stock extended its rebound from the previous session, recovering from a three-day slide that took shares from $70.71 to a low of $62.965 — a cumulative decline exceeding 10%.

The prior selloff was driven by market concerns that second-quarter retail per-unit gross profit could face headwinds from pricing lag effects. However, strong first-quarter fundamentals have provided bottom support for the recovery. Carvana reported Q1 earnings per share of $1.69, surpassing consensus estimates of $1.50 to $1.58, while revenue reached $6.432 billion, representing 52% year-over-year growth. RBC Capital Markets had previously raised its price target on the stock to $460.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)