5 Best Short Squeeze Stocks To Buy Now

2. Carvana Co. (NYSE:CVNA)

Year to Date Share Price Performance: 4.42%

Float Short: 35.55%

Number of Hedge Fund Investors In Q4 2023: 40

Carvana Co. (NYSE:CVNA) is an eCommerce company that enables customers to buy and sell cars online. There seems to be some merit to its high percentage of float being sold short as the shares are rated Hold on average. However, Carvana Co. (NYSE:CVNA) has beaten analyst EPS estimates in all four latest quarters, and its fate also depends on the recovery of the used car market.

40 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database had bought Carvana Co. (NYSE:CVNA)’s shares during the period. Out of these, the largest shareholder was Zachary Sternberg, and Benjamin Stein’s Spruce House Investment Management courtesy of its $502 million stake.

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