Previous Close | 35.39 |
YTD Return | 13.38% |
Expense Ratio (net) | 0.00% |
Category | N/A |
Last Cap Gain | N/A |
Morningstar Rating | ★★★★★ |
Morningstar Risk Rating | Average |
Sustainability Rating |
Net Assets | N/A |
Beta (5Y Monthly) | 1.02 |
Yield | 0.00% |
5y Average Return | N/A |
Holdings Turnover | N/A |
Last Dividend | 0.29 |
Average for Category | N/A |
Inception Date | Jun 07, 2023 |
Online used car retailer Carvana (NYSE: CVNA) is taking advantage of a soaring stock price to temporarily alleviate some pressure from its mountain of debt. Along with its second-quarter report on Wednesday, the company announced a complex debt restructuring deal it struck with most of its noteholders. Carvana's press release only tells part of the story.
Shares of Lemonade (NYSE: LMND) surged today, even as there was no company-specific news out on the stock and the Nasdaq finished flat. Instead, the "insurtech" stock seemed to benefit from a short squeeze as trading volume spiked. Additionally, good news from Carvana may have also helped spark the Lemonade squeeze.