NEW YORK, January 1, 2026, 15:58 ET — Market closed
Carvana Co (CVNA) shares closed down 1.7% at $422.02 on Wednesday, the last U.S. trading session of 2025, as investors wrapped up a holiday-shortened week before Wall Street’s New Year’s Day closure. The stock traded between $421.95 and $430.30.
The dip matters because Carvana has been a high-volatility momentum stock, leaving it sensitive to shifts in risk appetite and year-end portfolio positioning.
It also comes at a time when liquidity — the ability to buy or sell without moving the price — is thin, which can exaggerate swings. U.S. stocks finished 2025 lower, with the S&P 500 down 0.74%, the Nasdaq off 0.76% and the Dow down 0.63%, and “the last few days” are unlikely to drive 2026 returns, said Giuseppe Sette, co-founder and president of Reflexivity. Reuters
Carvana’s decline broadly tracked other auto retail and auction names: CarMax fell 1.7%, ACV Auctions slid 1.5% and Openlane lost 1.1% in the same session, market data showed. MarketWatch
With no fresh company catalyst in the final session, the stock moved with the broader tape as investors adjusted positions into year-end.
Macro data remained in focus because interest-rate expectations feed directly into consumer borrowing costs, a key driver for auto purchases. A day earlier than usual because of the holiday, U.S. data showed initial claims for unemployment benefits fell to 199,000 for the week ended Dec. 27. Reuters
Carvana, an online used-car retailer known for its vehicle vending machines, was added to the S&P 500 effective Dec. 22 — a change that can force index-tracking funds to own the stock. Reuters reported the move capped a sharp turnaround from the company’s 2022 debt worries as it tightened costs and returned to profitability. Reuters
Investors now want to see whether demand and margin gains hold up as competition and financing conditions evolve.
In the next update, traders will focus on retail unit volumes, gross profit per unit and adjusted EBITDA — a common profit yardstick that strips out interest, taxes and depreciation. Cash generation and leverage remain central watchpoints for a company that has carried heavy debt in the past.
Before trading resumes on Friday, technicians are watching the $400 area as a round-number support after the stock ended Wednesday near $422. A move back toward the mid-$430s would put the prior day’s highs back in view.
The next U.S. macro tests arrive early next week, starting with the Institute for Supply Management’s manufacturing PMI — Purchasing Managers’ Index, a survey-based gauge of factory activity — due at 10 a.m. ET on Monday. The U.S. Labor Department calendar also shows JOLTS (Job Openings and Labor Turnover Survey) on Jan. 7 and the December employment report on Jan. 9. PR Newswire
Carvana has not announced a date for its next quarterly results, but Nasdaq’s earnings calendar currently estimates a report around Feb. 18, while Yahoo Finance’s calendar lists Feb. 25. Until the company confirms, investors are left triangulating around those estimates for the next major stock-moving catalyst. Nasdaq
