January 11, 2026
Carvana’s stock has roared back from the brink. This chart shows its meteoric surge.

Carvana’s stock has roared back from the brink. This chart shows its meteoric surge.

Carvana’s stock has roared back from the brink. This chart shows its meteoric surge. – MarketWatch

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In One Chart

Published: July 19, 2023 at 12:58 p.m. ET

Debt deal quashes liquidity concerns for now

Jimmie Johnson drives the Carvana-sponsored #84 Carvana Chevrolet at a practice for a NASCAR race in February in Florida.

Getty Images

[]Carvana Co. shares have gained nearly 1,000% this year, a move harder to wrap around one’s head considering that it follows two straight years of losses for the stock and concerns about the company’s viability.

[]Carvana CVNA, +40.20% reported strong second-quarter results earlier Wednesday. Key to that was a debt-reducing deal aimed at bolstering liquidity. A debt swap earlier this year was called “tantamount to default.”

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[]Don’t miss: Carvana’s debt restructuring is good news, but its losses are ‘hardly in the growth stock handbook,’ analyst says

[]The march upward for the stock in 2023 follows two years of negative results, including a 98% drop last year. Carvana became a public company in 2017.

[]Carvana rode a continued wave of demand for used cars to more than double its revenue in 2021, but that created its own problems for the company.

[]By the end of that year, the retailer was talking about “significant operational constraints” that came with the surge, both in buying more cars to boost its inventories and selling — more last-mile pickups, more customer care interactions, and more complex title-processing and registration requirements, for instance.

National Hot Dog Day is July 19, but here’s why you won’t find franks at many fast-food chains

[]Tube steaks may rule the day at family barbecues or at the ballpark, but they’ve never quite cut the mustard, so to speak, in the dining mainstream. How come?

[]Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.

[]Emily Bary is a MarketWatch reporter based in New York.

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