What's Going On With Carvana Stock?

Carvana Co. CVNA shares are trading higher Tuesday on continued upward momentum. The stock has risen more than 50% over the past five days.

What To Know:

Carvana shares are climbing on heavy trading volume and reached a new 52-week high of $61.61 Tuesday. According to data from Benzinga Pro, more than 10 million shares have already been traded in the session, compared to the stock's 100-day average of 8.527 million shares.

Carvana has announced several recent milestones including the naming of Carvana as the official online auto retailer of the Chicago Fire Football Club regular season, the expansion of same day vehicle delivery to Columbus, OH and Cincinnati, OH residents and the multi-year extension of its partnership with Phoenix Rising Football Club.

According to data from Benzinga Pro, Carvana shares are trading above the stock's 50-day moving average of $34.54, and 42% of available Carvana shares are being sold short.

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CVNA Price Action: According to Benzinga Pro, Carvana shares are up 5.56% at $58.78 at the time of publication.

Image: Asdullah Al Mousli from Pixabay