Why Carvana and CarMax Stocks Could Be Poised to Soar
Since March 15, 2020, as investors began to understand the effects of the COVID-19 pandemic on consumer behavior, Carvana (NYSE: CVNA) shares have increased roughly 167% compared to the S&P 500's 19% gain. Carvana outshined a vast majority of auto stocks, simply because its online car buying business model with contactless delivery options was tailor-made to thrive during social distancing. Here's more good news: New data suggests that in addition to Carvana, broader used car retailers such as CarMax (NYSE: KMX) could be poised to soar even further.