New York, February 4, 2026, 21:19 EST — The market has closed.
Shares of Carvana Co. (CVNA) dropped 4.3%, closing at $393.04 on Wednesday. The stock fluctuated widely, ranging from $366.62 to $410.52 throughout the day.
U.S. markets remain closed until Thursday’s open, so this move mainly signals how traders are positioned. Carvana is still viewed as a high-volatility stock heading into next week’s key events, and it doesn’t take much to move the needle.
Carvana announced it will release its fourth-quarter and full-year 2025 earnings after the market closes on Wednesday, Feb. 18. The company has set a conference call for 5:30 p.m. ET. 1
Carvana announced Tuesday that it has rolled out same-day vehicle delivery in the greater Eugene, Oregon area. “Customers in the Eugene-area can now complete their online purchase and have their vehicle delivered to their driveway within hours,” said Jacqueline Hearns, senior director of market operations and expansion. 2
A regulatory filing caught some eyes. On Feb. 3, Chief Operating Officer Benjamin E. Huston exercised options and sold shares across several trades under a Rule 10b5-1 plan — a preset schedule insiders use to avoid charges of trading on non-public info. 3
The broader market gave little lift. CarMax shares gained 4.6%, while Carvana dipped, marking a split day for used-car stocks. The Dow closed up, but the S&P 500 slipped, per market data. 4
Carvana’s shares have remained volatile since late January, after short seller Gotham City Research flagged related-party deals involving the Garcia family and claimed the company overstated its earnings. Carvana pushed back, calling the report “inaccurate and intentionally misleading,” according to the Financial Times. For context, a short seller profits if a stock’s price drops.
Risks cut both ways. On Wednesday, Rosen Law Firm announced it’s probing possible securities claims for Carvana shareholders over accusations the company might have provided misleading info — a common headline for volatile stocks that can unsettle investors. 5
Next week, investors are expected to shift their attention away from delivery footprint updates and zero in on the fundamentals: retail unit sales, gross profit per unit, auto loan funding conditions, and any new information on related-party disclosures. The key question remains how sustainable the recent figures really are.
Carvana’s next major event is its earnings release and conference call scheduled for Feb. 18 at 5:30 p.m. ET, as listed on its events calendar. 6
