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Why Carvana Stock Is Plunging Today

Why Carvana Stock Is Plunging Today

Shares of the online car-buying company Carvana (NYSE: CVNA) were falling fast today, likely after investors drove the stock up higher yesterday in response to rival CarMax's better-than-expected earnings report. Carvana's stock spiked yesterday after competitor CarMax beat analysts' earnings estimate for its latest quarter.