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SmokyStock

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SmokyStock

Re: None

Tuesday, 10/31/2023 6:17:31 AM

Tuesday, October 31, 2023 6:17:31 AM

Post# of 844
$CVNA, an e-commerce platform for buying and selling used cars, experienced a surge in summer due to impressive earnings numbers. The company reported a 51% EPS beat in July and announced plans to restructure its debt.

Q2 revenue was $2.97B, and adjusted EBITDA and gross profit per unit increased 94% year-over-year. The stock moved from the low $40s into the high $50s, but hedge funds were forced to cover their short position. The stock moved higher in September on positive debt exchange news.

The upcoming earnings report on November 2nd is a significant catalyst for bulls and bears.
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