Carvana stock

Carvana Stock

Carvana shares jump more than 30% on deal to reduce debt by $1.2

Carvana stock experienced a significant increase in value following the announcement of a deal to reduce debt by $1.2. The agreement will eliminate more than 83% of Carvana's 2025 and 2027 unsecured note maturities, resulting in a lower required cash interest expense for the company.

This positive development has led to a surge in investor confidence, driving the stock price up by more than 30%. With a more manageable debt load and reduced interest expenses, Carvana is in a stronger financial position to pursue growth opportunities and drive shareholder value in the future.