On August 14, Carvana Co. rose 3.02% in regular trading, trading at $74.67/share, with turnover of $277 million. The stock continued its recovery following a combination of debt restructuring and strong quarterly fundamentals.

On the news front, the company announced on August 12 the pricing of a $1.66 billion senior secured term loan B facility at one-month term SOFR plus 225 basis points, issued at 99.75% of principal. Proceeds will be used to fully redeem its 9.00% senior secured notes due 2030, substantially reducing the company's effective borrowing costs. Meanwhile, Carvana's Q2 results showed revenue of $7.376 billion, significantly exceeding the consensus estimate of $6.909 billion, with EPS of $0.42 beating the $0.36 estimate by 16.67%. The combination of improved balance sheet structure and robust top-line growth attracted bargain-hunting capital, driving share price recovery from the post-earnings selloff triggered by full-year adjusted EBITDA guidance of $2.7-3.0 billion that fell short of some Wall Street expectations.

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