Carvana shares surge 6.93% after-hours as stock split announcement and turnaround optimism drive post-market rally.

Carvana Co. (CVNA) surged 6.93% in after-hours trading, driven by the announcement of a proposed 5-for-1 stock split and renewed institutional interest. The split, pending shareholder approval for a May 5, 2026, implementation, aims to enhance accessibility for retail investors, signaling a strategic shift toward growth. Concurrently, GMO Benchmark-Free Fund’s reported 9999% increase in its stake (despite conflicting negative figures in filings) highlighted potential buy-side accumulation. These developments countered ongoing bearish pressures, including short-seller allegations, legal probes, and margin concerns, as analysts noted the stock split as a catalyst for renewed optimism in Carvana’s long-term e-commerce model and market expansion efforts.