Carvana has been on a hot streak. The stock is actually up about 7 percent This kind of week, 70 percent in 2019 along with 160 percent year-over-year.
Still, the online used-car platform is actually roughly $17 off of its all-time high in September after slipping with the rest of the market within the fourth quarter. Cramer said the item was crushed without a specific reason.
The host acknowledged which he mistakenly recommended buying Carvana’s weakness in October—the stock eventually touched $28 prior to Christmas. Carvana has since recovered, without big news, much of those losses along with caught a spark despite disappointing quarter results two weeks ago to close shy of $56 Thursday, he said.
“When Carvana was reporting great numbers within the fourth quarter along with its stock was going down, the item was a fabulous buying opportunity,” Cramer said. “currently, though, we keep getting what I’d consider to be bad news … [in a] scathing research report, a disappointing quarter, [nevertheless] the stock keeps going higher. At these levels, you know what I say [sell].
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