Online auto retailer Vroom Inc. is seeking to go public as soon as June, the Wall Street Journal reported Sunday.What Happened The New York-based company has confidentially filed for an initial public offering with the United States Securities and Exchange Commission, people familiar with the matter told the Journal.Goldman Sachs Group Inc. (NYSE: GS) is leading Vroom's filing, and others, including Wells Fargo & Co. (NYSE: WFC), Allen & Co LLC., Bank of America Corp. (NYSE: BAC), and Stifel Financial Corp. (NYSE: SF) will serve as underwriters, according to the Journal.Vroom was last valued at $1.5 billion when it received a $254 million funding in December last year.In March, it announced a $450 million floorplan commitment from Ally Financial to increase its liquidity.The company's rival Carvana Co. (NYSE: CVNA) went public in April 2017 and has since seen its stock price increase by 667%.Why It Matters Vroom's planned IPO comes at a time when the novel coronavirus (COVID-19) pandemic has wreaked havoc at the financial markets.Only two companies went public in the first two weeks of April, together raising a few hundred million dollars, the Journal noted.Among technology companies, only has gone public in 2020 so far, according to data from the University of Florida finance professor Jay Ritter reported by the Journal.A number of promising IPOs, including that of Airbnb Inc., remain stalled following a string of underperformances last year that included the IPOs of Uber Technologies Inc. (NYSE: UBER), Lyft Inc. (NASDAQ: LYFT), and WeWork's failed attempt.Carvana Price Action Carvana shares closed nearly 2.5% higher at $100.09 on Friday and remained unchanged in the after-hours market.See more from Benzinga * Google Employees To Work From Home Through 2020 With Few Exceptions * Vista Equity Invests .5B In India's Jio Platforms, Joining Facebook, Silver Lake As Stakeholders * Tesla Confirms Shanghai Gigafactory Shutdown, But Says It's All 'According To Plan'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

CVNA earnings call for the period ending March 31, 2020.

Shares of Cars.com (NYSE: CARS), KAR Auction Services (NYSE: KAR), and Carvana (NYSE: CVNA), are trading all over the map Thursday as Cars.com and KAR Auction are down 18% and 11%, respectively, while Carvana is up 10% on a wealth of earnings reports and a sign of optimism from Lyft (NASDAQ: LYFT). Carvana has had quite the trading day as it opened 10% lower before recovering to a 10% gain by Thursday afternoon.

Whenever internet commerce is mentioned, first thoughts often go to Amazon (NASDAQ: AMZN), the king of all e-commerce. Amazon is not only a great stock to own, but it's also a fearsome competitor. While it was the COVID-19 pandemic that finished that company off, it was internet retail that inflicted much of the damage that weakened it beforehand.

* Benzinga has examined the prospects for many investor favorite stocks over the last week. * This week's bullish calls included a couple of big-box retailers. * Big banks featured recently in both bullish and bearish calls.As the reopening of the economy gears up, leading to some optimism on Wall Street, the major U.S. indexes ended last week with 3%-plus gains.Tensions between the United States and China are on the rise, and a variety of opinions about economic recovery came from the likes of Mark Cuban, Jamie Dimon, Jerome Powell and George Soros in the last week. Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are some of the last week's most bullish and bearish posts that are worth another look.Bulls Spencer Israel's "Big Banks: Playing A Rebound Within The Financial Sector" says investors already may be looking ahead to a potential recovery of Bank of America Corp (NYSE: BAC) and its peers in the financial sector.In "A Modern Retail Winner: Wall Street Bullish On Walmart Following Big Q1," Wayne Duggan shares what several analysts had to say about Walmart Inc (NYSE: WMT) since its impressive report.Home Depot Inc (NYSE: HD) has fared well despite a shaky housing market. So says Elizabeth Balboa's "Who Could Win, Lose As US Homebuilding Starts Decline: Home Depot 'Performing Well' During Coronavirus Crisis.""9 Nvidia Analysts On Q1 Beat, Ampere GPU: 'A Pure Play In Accelerated Computing'" by Shanthi Rexaline shows that a top analyst considers NVIDIA Corporation (NASDAQ: NVDA) its top sector pick.For additional bullish calls, also have a look at "This Analyst Likes Kraft Heinz Stock And Its 40% Discount To Peers" and "CSX Is Set For Recovery In 2021, UBS Says In Upgrade."Bears Wayne Duggan's "JPMorgan Option Trader Bets M On Downside Ahead" looks at several bets made this last week that the recent rally in JPMorgan Chase & Co. (NYSE: JPM) stock reverses course soon."Guggenheim Predicts 'Tough Road' Ahead For Comcast, Downgrades Stock" by Jayson Derrick discusses how the coronavirus crisis is likely to impact each Comcast Corporation (NASDAQ: CMCSA) business unit.In Tom Meilleur's "Carvana: A Questionable Used Car Business Model," see how Carvana Co (NYSE: CVNA) has been growing very fast since its initial public offering, but has not produced a single profitable quarter in that that time.Many smaller businesses may struggle to remain afloat, especially if the economy reopens only partially, according to "Square Faces Risk From Struggling Smaller Businesses, BofA Says In Double Downgrade" by Priya Nigam. See what that means for Square Inc (NYSE: SQ).Be sure to check out "Generic Threat To Amarin's Vascepa Overrides Positive Sentiment On Coronavirus Announcement" and "Unemployment Prospects, Rate Environment Sends Bank of America Neutral On Charles Schwab" for additional bearish calls.At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Barron's Picks And Pans: Berkshire Hathaway, Carvana, Madison Square Garden And More * Barron's Picks And Pans: Berkshire Hathaway, Disney, SoftBank And More * Notable Insider Buys In The Past Week: Carvana, MGM And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Hayden Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The fund posted a return of 4.10% for the quarter, outperforming their benchmark, the S&P 500 Index which returned -20.00% in the same quarter. You should check out Hayden Capital’s top 5 stock picks which helped them beat […]

Carvana Co (NYSE:CVNA), the “disruptive” used car dealer, aka the “Amazon of used cars”, has had a tumultuous 2020 and it is only May. Entering the Year of the Rat at $88.00/share, the well-baited trap of mid-March saw a 65% swoon to sub $30.00 before a miraculous resurrection to the current $98.00 print  (hundy roll […]

Ernest Garcia, CEO of Carvana, joined Yahoo Finance's Jen Rogers, Myles Udland, Rick Newman, and Akiko Fujita to discuss his outlook for the auto industry and the recent news of Carvana expanding into 100 new markets.

Shares of Carvana (NYSE: CVNA) were pulling back today after the online used-car dealer announced a secondary offering, its second equity offering in less than two months, as the company seeks to improve its cash position during a volatile period. Carvana said last night that it would offer 5 million shares at a price range later revealed to be $93 to $96, bringing in close to $500 million in cash for the fast-growing used car dealer. Investors tend to dislike secondary offerings because they dilute current shareholders, but it's smart for Carvana to take advantage of the current lofty share price to recapitalize during an uncertain time.

Carvana Co. (NYSE: CVNA), a leading e-commerce platform for buying and selling used cars, today announced that it has commenced a public offering of its Class A common stock. Carvana is proposing to sell 5,000,000 shares of Class A common stock. The underwriters will offer the shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The last reported sales price of Carvana’s Class A common stock on May 18, 2020 was $98.59 per share.

Carvana (CVNA), the e-commerce platform for buying and selling used cars, has announced a public offering of 5,000,000 shares of its Class A common stock.The stock closed Monday’s trading at $98.59, and is currently falling 7% in Tuesday’s pre-market trading. According to Bloomberg the offering will be within the price range of $93-$96 per share.“The underwriters will offer the shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices” the company stated.Citigroup and Wells Fargo Securities will act as book-running managers for the proposed offering.Carvana intends to use the proceeds for general corporate purposes and to partially repay borrowings under its floor plan facility.“While COVID-19 headwinds are apt to persist nearer term, we increasingly believe that on the other side of the crisis, a sustained, even more-favorable backdrop for preowned vehicles and well-positioned, digitally-driven players, such as CVNA will take hold” comments Oppenheimer analyst Brian Nagel.He recently reiterated his buy rating and ramped up his Carvana price target from $95 to $127, arguing that CVNA should prove capital self-sufficient and generate meaningfully positive adjusted EBITDA in 2022.Nagel admits that Carvana shares are not inexpensive, but believes investors will “continue to seek long-term growth and safety in equities of firms situated to thrive amid now-rapidly shifting consumer dynamics.”Overall the stock has a cautiously optimistic Moderate Buy consensus. With the stock up 7% year-to-date, the average analyst price target suggests 11% downside potential lies ahead. (See CVNA stock analysis on TipRanks).Related News: Tesla’s China Car Registrations Plummet In April- LMC Auto Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney Saudi Arabia’s Sovereign Fund Snaps Up $7.7B Of US Stocks, Including Boeing and Facebook More recent articles from Smarter Analyst: * Macy’s Spikes 17% On Refinancing Plan To Weather Coronavirus Crisis * Redfin Brings Back Employees as Housing Market Heats Up * Eli Lilly, Junshi Biosciences To Start Human Testing Of Covid-19 Antibodies By Q2 * Merck Joins Race For Covid-19 Vaccine; Shares Rise 4.4% In Pre-Market Trading

Carvana is well positioned for a post-COVID-19 world, but could use additional liquidity to weather the storm.

In this article we will take a look at whether hedge funds think Carvana Co. (NYSE:CVNA) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]

Carvana launches 100 markets across 24 states, offering as-soon-as-next-day touchless home delivery with The New Way to Buy a Car™

Ernie Garcia has been the CEO of Carvana Co. (NYSE:CVNA) since 2012. This report will, first, examine the CEO...

Carvana (NYSE: CVNA), Spotify (NYSE: SPOT), and Zillow Group (NASDAQ: ZG)(NASDAQ: Z) are three high-growth stocks that are just getting started. Carvana is the country's third-largest retailer of used cars, but its business model is completely different than that of traditional car dealers. For starters, it doesn't even have dealership locations.

The number of U.S. fatalities from the coronavirus that causes COVID-19 climbed above 73,000 on Thursday, as President Donald Trump’s administration said it is shelving recommendations from the Centers for Disease Control and Prevention on reopening safely because they were too cautious

Used car sales sank and somewhat recovered at Carvana, but the slowdown deepened its March-quarter losses. It hopes for a recovery in the year’s second half.

This is a good time to look at your holdings and weed out companies that have high debt, or are losing money, or both Continue reading...

Online used automobile seller Vroom Inc. on Monday said it has filed with the United States Securities and Exchange Commission to go public.What Happened The Carvana Co.. (NYSE: CVNA) rival stated in the filing it intended to list at the Nasdaq Stock Market under the ticker "VRM."Vroom hasn't yet determined how many shares it intended to sell as part of the initial public offering, or at what price.Goldman Sachs Group Inc. (NYSE: GS), Wells Fargo & Co. (NYSE: WFC), Allen & Co. LLC., and Bank of America Corp (NYSE: BAC) will serve as the joint lead book-running managers for the IPO, the company noted.The Wall Street Journal earlier this month reported that Vroom was seeking to go public in June.The e-commerce company said its business took an initial severe hit due to the novel coronavirus (COVID-19) pandemic, but after it reduced inventory prices in late March, "demand returned to pre-COVID-19 levels.""We experienced robust ecommerce vehicle sales; however, those sales were at a greatly reduced gross profit per unit," it said in the filing."Due to the significant reduction in our inventory through April 30, 2020, we expect material decreases in future unit sales, revenue and gross profit until we are able to return inventory levels to pre-COVID-19 levels."Carvana Price Action Carvana shares closed 6.5% higher at $98.59 on Monday. The shares traded 4.3% lower in the after-hours at $94.40.See more from Benzinga * Carvana Rival Online Retailer Vroom Plans June IPO: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.