Tech Sell-Off: This Beaten-Down Growth Stock Could Soar 173%, Says Wall Street
Tech-driven used car dealer Carvana (NYSE: CVNA) might fit that bill. The company has suffered a stock price decline of 58% since hitting its all-time high in August 2021, but leading Wall Street investment bank Morgan Stanley (NYSE: MS) has just come out with a very bullish call. Its digital approach is so powerful that Morgan Stanley analyst Adam Jonas describes the company as the "apex predator in auto retail" -- and since Carvana has rocketed up the rankings to become the second-largest car dealer in the U.S., he might be right.
