Exane BNP Paribas analyst Chris Bottiglieri is now "neutral" on the stock, whereas he had previously believed it would outperform the average returns for the S&P 500. As a result, Carvana stock was down about 9% as of 10:30 a.m. ET. In the second quarter of 2023, Carvana's revenue dropped 24% year over year.
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