Major used-car retailer gets set to join the S&P 500

Key Highlights

• The move essentially cements perhaps the most improbable rebounds in modern stock-market history.
• Its traction is insane, propelling it into the same benchmark that houses giants like Nvidia, Amazon, and Tesla.
• At the same time, Carvana’s business is firmly on the comeback trail, posting record profits and explosive unit expansion, setting the stage for another solid year.
• For a little color, after the announcement, Carvana stock jumped nearly 10% after-hours.
• That added to an already enormous 97% year-to-date gain and nearly 30% in the past month alone.