Carvana's Tuesday Slide: Stock Split, Earnings, and What to Watch

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Carvana Co. (Carvana (CVNA)) shares are trading lower on Tuesday, caught in a broader market pullback that has retail traders watching the stock's post-split dynamics closely. The Nasdaq is down 0.02% while the S&P 500 has shed 0.20%.

The Tuesday pullback follows a mechanical adjustment observed on May 8, when Carvana executed a 5-for-1 stock split effective at that session's market open. Stock splits don't change a company's value, but they can affect trading psychology and liquidity.

Robust Q1 Earnings

The recent stock split followed a robust first-quarter earnings report from the online used car retailer. Carvana reported revenue of $6.43 billion, beating the analyst consensus estimate of $6.08 billion. Additionally, the company posted earnings of $1.69 per share.

Critical Price Levels To Watch For CVNA

From a trend perspective, the stock is trading 16.9% below its 20-day SMA and 8.2% below its 50-day SMA, which keeps the near-term tape pointed lower and makes rallies more likely to get sold. It's also 13.8% below the 200-day SMA, reinforcing that the longer-term trend is still in repair mode after the 52-week low set in March.

The moving-average structure is mixed: the 20-day SMA is still above the 50-day SMA (a bullish shorter-term crossover), but the death cross from March (50-day below the 200-day) remains an overhang for longer-term trend followers.

Key levels are getting clearer as price compresses between nearby pivots:

Key Resistance: $71 — a round-number area near the 50-day SMA ($69.37) where rebounds can stall
Key Support: $55 — a nearby floor close to the 52-week low zone ($54.46) where buyers previously stepped in

Analyst Consensus & Recent Actions

The stock carries a Buy rating with an average price forecast of $96.92. Recent analyst moves include:

Barclays: Overweight (Adjusts forecast to $93.00) (May 14)
BTIG: Buy (Lowers forecast to $97.00) (May 11)
DA Davidson: Neutral (Raises forecast to $67.00) (May 1)

CVNA Price Action: Carvana shares were down 4.37% at $63.13 at the time of publication Tuesday. Over the past month, CVNA has declined about 18.0% versus a 4.0% rise in the S&P 500 and is down roughly 25% year-to-date compared to the index's 7.5% gain.