PPI data boosts US auto dealer stock Carvana up 10%
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US car dealers' stocks rose on Tuesday, mainly driven by July PPI data, which boosted expectations of a Fed rate cut. Carvana's stock price surged by 9.75% to close at $146.49, nearing a 30-month high. Despite its short interest ratio of 13.3% being higher than its peers, its quarterly performance has attracted market attention. Analysts have maintained a "moderate buy" rating on Carvana with a target price of $163.83
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