Carvana shares rise 5.53% intraday after being added to S&P 500 index, boosting institutional demand.

Carvana Co. (CVNA) surged 5.53% intraday following its inclusion in the S&P 500 index, a move that typically boosts liquidity and institutional demand. Analyst upgrades, including Wedbush maintaining CVNA as a top 2026 internet pick and Evercore ISI raising its price target to $425, reinforced optimism about the company’s growth prospects amid AI and autonomous vehicle disruptions. While BofA’s lowered price target to $460 and insider sales by executives introduced uncertainty, the broader market’s reaction to the S&P 500 inclusion and positive analyst sentiment appears to have driven the intraday rally.