We recently published a list of 10 Stocks Bolstered by Broader Market Cheer. In this article, we are going to take a look at where Carvana Co. (NYSE:CVNA) stands against other stocks that bolstered by broader market cheer.
The stock market bounced back from hefty losses on Wednesday, with all Wall Street indices finishing in the green territory after President Donald Trump announced that the US would pause the imposition of higher tariffs on 75 countries for 90 days.
In a post on Truth Social, Trump said that more than 75 countries have called to negotiate and have not retaliated in any way.
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he noted.
Following the announcement, the Dow Jones jumped by 7.87 percent, the S&P 500 surged by 9.52 percent, and the tech-heavy Nasdaq soared by 12.16 percent.
Indices aside, 10 companies led the charge, predominantly those with a high international trade exposure.
In this article, we listed Wednesday’s 10 best-performing stocks and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with $2 billion market capitalization and $5 million in trading volume.
A customer buying a used car with the help of a finance specialist.
Carvana Co. (NYSE:CVNA)
Carvana Co. grew its share prices by 25.02 percent on Wednesday to end at $220.44 apiece as investors continued to snap up shares in the company following news that it would build a new mega site in Arizona and generate as many as 200 jobs.
“The Phoenix area is home to our headquarters and a significant anchor for Carvana and ADESA operations, so we couldn’t be more excited to expand our local capabilities and team here,” said CVNA Senior Vice President for Inventory Brian Boyd. ”Bringing Carvana Inspection and Reconditioning Center capabilities to ADESA Phoenix will drive additional speed and selection for our local retail customers and an even more robust offering for our local wholesale customers while also creating new entry-level and skilled jobs in the Chandler community.”
On Monday, JMP Securities reaffirmed its Outperform rating for CVNA and a price target of $340, given the company’s ongoing expansion efforts, which include the integration of ADESA sites as a key driver for its growth.
CVNA has been actively integrating ADESA’s physical auction sites into its operations. At present, it was able to successfully integrate six out of 56 ADESA locations.
Overall, CVNA ranks 5th on our list of stocks that bolstered by broader market cheer. While we acknowledge the potential of CVNA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CVNA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
