Carvana Surges 5.53 as $1.24B Volume Propels It to 64th in Market Activity

On August 22, 2025, Carvana (CVNA) surged 5.53% as daily trading volume reached $1.24 billion, a 127.08% increase from the prior day, ranking it 64th in overall market activity. The e-commerce auto retailer's shares gained momentum amid renewed investor focus on high-volume equities following a strategic shift in market dynamics

Analysts noted that Carvana's price action aligned with broader market trends favoring liquid assets, particularly as trading algorithms prioritized volume-driven strategies. The stock's performance reflected its status as a high-liquidity security in a market environment emphasizing short-term momentum plays

Backtesting of a volume-based strategy revealed that purchasing the top 500 high-volume stocks and holding for one day generated an annualized return of 6.98% from 2022 to 2025. The strategy experienced a maximum drawdown of 15.59% during the backtest period, with a notable correction in mid-2023 underscoring the risks associated with volume-centric trading approaches