From CNBC:

Carvana shares surged 30% after posting its first-ever annual profit and receiving upgrades. The company rebounded from a pandemic peak by trimming inventory and expenses. It reported a net income of $450M for 2023 and expects growth in 2024. Analysts upgraded the stock due to profit increases and unit growth. CEO Garcia sees the company in an “incredible competitive position.”



Read more at CNBC: Carvana (CVNA) stock surges on 2023 profit, analyst upgrades