Shares of Carvana Co. jumped 2.4% in premarket trading Tuesday, after the online used-car retailer said it adopted a shareholder rights plan, in an effort to...
Shares of Carvana Co.
jumped 2.4% in premarket trading Tuesday, after the online used-car retailer said it adopted a shareholder rights plan, in an effort to block investors from buying up a stake while the stock price is depressed. The stock has tumbled 61.5% over the past three months through Friday, and plummeted 95.5% over the past 12 months, amid liquidity concerns due to falling used-car demand and and reports of continued layoffs. In comparison, the S&P 500 SPX has gained 8.7% the past three months.
jumped 2.4% in premarket trading Tuesday, after the online used-car retailer said it adopted a shareholder rights plan, in an effort to block investors from buying up a stake while the stock price is depressed. The stock has tumbled 61.5% over the past three months through Friday, and plummeted 95.5% over the past 12 months, amid liquidity concerns due to falling used-car demand and and reports of continued layoffs. In comparison, the S&P 500 SPX has gained 8.7% the past three months.
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