However, many seem to be worried about macro-tail winds and a slow-down in used-car demand and whether or not they were overpaying for said purchases. Carvana reported earnings a few weeks ago that showed they faced some challenges but their purchase of KAR Global, a used car auction firm, gave the company a temporary boost in share price the day after.
Since that earnings report the stock has traded down considerably near -30% and new 52-week lows.
So that makes us wonder if this might be an opportunity soon to start looking at a buy and we have three things to consider:
1. Mentions Counts are extraordinarily strong with YoY at +31% and QoQ at +38%, despite the dramatic drop in share price.
2. Used Vehicle Demand Mentions are trending at +59% YoY change and still not showing any signs of slowing down.
3. Happiness Mentions are significantly up at +24% YoY they continue to trend higher even above pre-pandemic levels.