Carvana Co is trading 8.1% down at $65.24 as traders reassess the stock's recent post-earnings rally and navigate heightened volatility driven by elevated short positioning.
- Short interest in the stock reportedly surged over 400%, creating extreme sensitivity to bearish flows and profit-taking.
- Today's move extends a downward trend from June 1, when shares fell 4.8% to $69.48, despite a lack of fresh company-specific news.