Carvana delivered 55% year-over-year revenue growth in Q3, driven by 44% unit growth, representing the fourth consecutive quarter with more than 40% unit expansion despite a soft used-car market environment.

Sequential loan margin expansion in Q3 and robust performance in recent loan vintages have alleviated earlier concerns around subprime auto lending, signaling improved credit quality and profitability in Carvana’s finance operations.

Over the past month, Carvana shares declined 22.6%, trading between $148.25 and $486.89 over the last 52 weeks, and recently closed near $342.87 with a market capitalization of approximately $74.3 billion; hedge fund holdings increased to 109 from 91 in the prior quarter.