Why Carvana and CarMax Stocks Could Be Poised to Soar

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.