Carvana sets a high bar for itself. Wall Street has its doubts.

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Carvana Co. late Wednesday set an ambitious long-term goal for itself and reported quarterly earnings that beat Wall Street’s expectations, and the stock rallied despite economic uncertainty and demand concerns.

Carvana’s shares

CVNA initially dropped nearly 6% in the extended session. The stock recovered, however, and ended after-hours trading up 3%.

This post was originally published on Market Watch

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