CNVA Stock Climbs 3% Pre-Market After Carvana Board Approves First Ever Stock Split
Synopsis
The board has approved a 5-for-1 stock split, with a shareholder vote expected on May 5.
Shares of Carvana (CVNA) climbed 3% in pre-market trading on Friday after the company announced that its board has approved a 5-for-1 stock split, the first in its history.
Carvana added that if shareholders approve of the split at the annual meeting on May 5, they will receive four additional shares for each share held, covering both Class A and Class B common stock.
“This is the first split in Carvana’s history, and we believe it achieves the important goal of keeping our stock accessible to all of our team members. "This decision follows significant stock appreciation as Carvana reached new all-time records for units and profitability while continuing to lead the industry in growth in 2025,” said Mark Jenkins, Chief Financial Officer of Carvana.
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