Carvana Stock Split Is Here: CVNA’s $78 Share Price Puts Profit Test Back in View
Carvana shares closed at $77.94 on Friday, down 2.58%, after a five-for-one stock split approved at the May 5 annual meeting. The split followed record first-quarter results, with retail unit sales up 40% to 187,393 and net income at $405 million. Trading volume reached 6.96 million shares. Management said the split aims to make shares more accessible, especially for employees.