🟢 Carvana Co. is trading 4.1% up on revelation of potential Slate Auto investment

Carvana Co is trading 4.1% up at $66.27 after it was revealed the company holds a warrant to invest in Bezos-backed EV startup, Slate Auto.

• Reports from June 3rd, based on Delaware filings, showed Carvana was granted the option to buy shares in Slate Auto in 2025.
• This potential investment could signal a strategic expansion for Carvana into the new-vehicle market, complementing its existing used-car business and network of Stellantis dealerships.
• The news has sparked investor optimism about Carvana's future growth prospects beyond its core market.