Carvana Stock Plummets 25.45% in a Day, Trading Volume Ranks 35th

Carvana (CVNA) shares closed at $14.88 billion on June 16, 2025, marking a 25.45% decline from the previous day. The trading volume ranked 35th among all stocks traded that day. The stock has been on a downward trend for the past three days, with a cumulative decrease of 14.77%.

Carvana Co. operates an e-commerce platform for the buying and selling of used cars. The platform allows consumers to search for and identify a vehicle, inspect it using the company's 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle, and schedule delivery or pickup, all from their desktop or mobile devices. The company also offers automated vehicle valuations for purchasing vehicles from clients with or without retail purchase, automated financing, vehicle service contracts (VSC), auto insurance, GAP waiver coverage, limited warranty, and other ancillary products. Carvana provides options for pickup and delivery, including pickup at its automated vending machines or hubs, and same-day delivery, depending on the market. The company's internal consultants are available to answer customer questions that arise during the process.

Carvana's CEO, Ernest C. Garcia III, recently sold shares worth $3.28 million. This transaction has raised concerns among investors about the company's future prospects and the CEO's confidence in the stock. The sale of such a significant number of shares by an insider can often be interpreted as a bearish signal, potentially leading to further declines in the stock price.