TLDR
- Carvana’s board approved a 5-for-1 stock split, its first ever, pending shareholder vote on May 5.
- If approved, trading on a split-adjusted basis begins May 7 under the ticker “CVNA.”
- The split is designed to make the stock more accessible to individual investors and Carvana employees.
- CVNA stock rose about 3% in premarket trading after the announcement.
- The stock is down 31% in 2026 but has gained 62% over the past 12 months.
Carvana’s board has approved a 5-for-1 forward stock split — the first in the company’s history. The announcement sent the stock up about 3% in premarket trading to around $302.
The move still needs shareholder approval. A vote is scheduled for the company’s Annual Meeting of Stockholders on May 5, 2026. If it passes, record holders of Class A and Class B common stock as of market close on May 6 will receive four additional shares for every one they hold. Trading on a split-adjusted basis is set to begin May 7.
The split will be carried out through an amendment to Carvana’s Certificate of Incorporation.
CFO Mark Jenkins pointed to the company’s strong 2025 performance as the backdrop for the decision. Carvana set new all-time records for both units sold and profitability last year while leading the industry in growth.
CEO Ernie Garcia framed the move around employees. All full-time team members are eligible to earn equity based on tenure, and Carvana also offers a discounted Employee Stock Purchase Plan.
“We’re proud to have an incredible team that truly owns outcomes,” Garcia said in a statement.
A Stock That’s Been Through It
Carvana went public in 2017 at $15 a share. It soared past $300 in 2021 during the pandemic-era car-buying boom, then collapsed to around $5 by the end of 2022. The company posted a $1.6 billion loss that year.
Since then, it has bounced back. Carvana returned to profitability and has grown sales and earnings quickly, picking up market share in a fragmented used-car market. The stock hit an all-time closing high of $478.45 on January 22, 2026.
It hasn’t been a smooth 2026, though. CVNA is down 31% year-to-date. A mixed quarterly earnings report in February and a short-seller report alleging undisclosed related-party deals both weighed on the stock. Carvana dismissed the allegations as “inaccurate and intentionally misleading.”
Over the last 12 months, CVNA is still up 62%.
2025 By The Numbers
Carvana sold just under 600,000 retail units in 2025. The company posted a total EBITDA margin of 11% and record net income of $1.9 billion for the year.
CEO Garcia reiterated the company’s long-term goal last month: 3 million retail vehicle sales per year at a 13.5% adjusted EBITDA margin, targeting a window between 2030 and 2035.
At its current premarket price of around $302, the split-adjusted price per share would be approximately $60.40.
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