JUMP REPORT
CARVANA (CVNA)
EARNINGS RELEASE - AUGUST 5 (AMC)
EARNINGS EXPECTATIONS:
THIS QTR: EPS: -.83/share REV: 1,140/M
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LAST QTR: EPS: -.66/share ACTUAL: -1.18/share (MISS)
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NEXT QTR: EPS: -.69/share REV: 1,410/M
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FULL YR: EPS: -3.34/share REV: 5,180/M
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BEAT/MISS RECORD: XX% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 10.9, -20.14, -10.59
EXPECTED JUMP MOVE THIS QUARTER: 15%
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*** With market volatility at extremes there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before tradin
Links To Latest News and Headlines
Altria always seems to be on the losing side of settlements when its patrons suffer. Just last month, Altria reached a settlement in which it will pay $235 million to resolve at least 6,000 Juul-related cases.
The company got a credit upgrade on its auto loan securitizations and launched a new national advertising campaign. As of this writing, shares of Carvana are up 33% this week and an astonishing 240% year to date. Carvana’s business model is buying and selling used cars on its marketplace, facilitating transactions between consumers and wholesale purchasers.
Shares of Carvana (NYSE: CVNA) were soaring last month as the online used car dealer took a big step on its comeback trail by posting better-than-expected first-quarter results and guiding to an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) profit in the second quarter. The update helped reassure investors that the stock would be able to avoid bankruptcy after plunging as much as 99% from its peak in 2021 on slowing growth and mounting losses, especially as interest rates rise and used car prices fell for much of last year. According to data from S&P Global Market Intelligence, Carvana stock finished the month up 86% as a short squeeze seemed to carry the stock following the earnings report.
(Bloomberg) — Carvana Co. canceled a $1 billion debt swap after a group of creditors refused to exchange their notes, posing a challenge as the used car retailer attempts to rein in its debt load.Most Read from BloombergAmazon Is in Talks to Offer Free Mobile Service to US Prime MembersTrillion-Dollar Treasury Vacuum Is Coming for Wall Street RallyRich Latin Americans Transform Laid-Back Madrid Into a New MiamiChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthUS Chides China Over Defense
PHOENIX, June 02, 2023–Carvana Co. Announces Expiration of Private Exchange Offers Relating to Existing Notes
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ANALYSIS:
StockJumpers trajectory analysis has a mixed market response post release. This is a VERY overpriced stock and is due for correction, and the data suggests it will but may not be until the following day. We are biased short on this event and will sell at market close, even if there is another small bump post release we will hold the position into tomorrow. (We are looking for it to drop over the next few days,)
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OUR TRADE PLAN:
ENTRY: SELL
STOP LOSS: N/A
INITIAL PROFIT TARGET: 15%
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TRADE ASSIST: N/A
POST RELEASE ACTION:
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There is a significant amount of data behind the scenes involved in the analysis and trade plan tab above, that does not get put into the report. Too much information for traders often confuses things – so this is stripped down to only what is needed to make the best possible decision(s) on trading the trajectory.
Members who are too busy to manual trade can use Trade Assist. For more information visit here
Avg Daily Volume: 2,051,943 Market Cap: 23.16B
Sector: None Short Interest: 40.73
Ticker delayed 20 minutes
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by Team Stockjumpers