How Big Will the SpaceX IPO Be?
Operated up to now as a private business, SpaceX will…
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | -- | $4.1M | $3.6M | |
| Revenue Growth (YoY) | -- | -- | -- | 180.93% | -12.4% | |
| Cost of Revenues | -- | -- | -- | $224.5K | $3.6M | |
| Gross Profit | -- | -- | -- | $3.9M | $65.9K | |
| Gross Profit Margin | -- | -- | 96.29% | 94.57% | 1.82% | |
| R&D Expenses | -- | $2.6M | $13.6M | $9.7M | $49.1M | |
| Selling, General & Admin | -- | $1.3M | $8.7M | $12.2M | $137M | |
| Other Inc / (Exp) | -- | -$52.1M | $75.8M | -$2.8M | -$226.5M | |
| Operating Expenses | -- | $1.5M | $8.9M | $19.9M | $186.1M | |
| Operating Income | -- | -$1.5M | -$8.9M | -$16M | -$186M | |
| Net Interest Expenses | -- | -- | -- | $39.4M | $3.1M | |
| EBT. Incl. Unusual Items | -- | -$2M | -$14.7M | -$58.2M | -$400.9M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | $979.5K | $1.1K | -- | |
| Net Income to Company | -- | -$2M | -$15.6M | -$58.2M | -$400.9M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -- | -$2M | -$15.6M | -$58.2M | -$400.9M | |
| Basic EPS (Cont. Ops) | -- | -$0.05 | -$0.42 | -$0.67 | -$2.36 | |
| Diluted EPS (Cont. Ops) | -- | -$0.05 | -$0.42 | -$0.67 | -$2.36 | |
| Weighted Average Basic Share | $37.2M | $37.2M | $37.2M | $87.5M | $169.6M | |
| Weighted Average Diluted Share | $37.2M | $37.2M | $37.2M | $87.5M | $169.6M | |
| EBITDA | -- | -$1.5M | -$8.9M | -$15.8M | -$182.7M | |
| EBIT | -- | -$1.5M | -$8.9M | -$16M | -$186M | |
| Revenue (Reported) | -- | -- | -- | $4.1M | $3.6M | |
| Operating Income (Reported) | -- | -$1.5M | -$8.9M | -$16M | -$186M | |
| Operating Income (Adjusted) | -- | -$1.5M | -$8.9M | -$16M | -$186M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | $1.1M | $1M | $972.9K | |
| Revenue Growth (YoY) | -- | -- | 426.96% | -5.64% | -3.76% | |
| Cost of Revenues | -- | -- | $56K | $885.5K | $2.4M | |
| Gross Profit | -- | -- | $1M | $125.4K | -$1.4M | |
| Gross Profit Margin | -- | -- | 94.77% | 12.41% | -141.64% | |
| R&D Expenses | -- | $1.7M | $2.2M | $3.9M | $8.3M | |
| Selling, General & Admin | -- | $2.1M | $1.8M | $19.9M | $31.8M | |
| Other Inc / (Exp) | -- | $17.2M | -$7.9M | -- | -- | |
| Operating Expenses | $149K | $2.2M | $4M | $23.8M | $40.1M | |
| Operating Income | -$149K | -$2.2M | -$3M | -$23.7M | -$41.5M | |
| Net Interest Expenses | -- | -- | $15.1M | $246.7K | $11.5M | |
| EBT. Incl. Unusual Items | -$159.2K | -$3.5M | -$26M | -$19.2M | -$54.8M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | $323.6K | -- | -- | $84.6K | |
| Net Income to Company | -$159.2K | -$3.8M | -$26M | -$19.2M | -$54.8M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -$40.4K | |
| Net Income to Common Excl Extra Items | -$159.2K | -$3.8M | -$26M | -$19.2M | -$54.8M | |
| Basic EPS (Cont. Ops) | -$0.00 | -$0.10 | -$0.30 | -$0.10 | -$0.20 | |
| Diluted EPS (Cont. Ops) | -$0.00 | -$0.10 | -$0.30 | -$0.10 | -$0.20 | |
| Weighted Average Basic Share | $37.2M | $37.2M | $87.5M | $200.8M | $277.9M | |
| Weighted Average Diluted Share | $37.2M | $37.2M | $87.5M | $200.8M | $277.9M | |
| EBITDA | -$149K | -$2.2M | -$3M | -$22.9M | -$39.3M | |
| EBIT | -$149K | -$2.2M | -$3M | -$23.7M | -$41.5M | |
| Revenue (Reported) | -- | -- | $1.1M | $1M | $972.9K | |
| Operating Income (Reported) | -$149K | -$2.2M | -$3M | -$23.7M | -$41.5M | |
| Operating Income (Adjusted) | -$149K | -$2.2M | -$3M | -$23.7M | -$41.5M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | $3.4M | $3.4M | $3.7M | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | $171.4K | $1.2M | $9.2M | |
| Gross Profit | -- | -- | $3.2M | $2.1M | -$5.5M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | $10.4M | $44.4M | $41.1M | |
| Selling, General & Admin | $1.2K | $4.6M | $12M | $104.7M | $123.3M | |
| Other Inc / (Exp) | -- | $17.2M | $13M | -$228.6M | -- | |
| Operating Expenses | $150.3K | $4.8M | $19.2M | $148.1M | $164.4M | |
| Operating Income | -$150.3K | -$4.8M | -$16M | -$146M | -$169.9M | |
| Net Interest Expenses | -- | -- | $37.7M | $4.8M | $15.9M | |
| EBT. Incl. Unusual Items | -$160.4K | -$11M | -$53.9M | -$372.4M | -$143.8M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | $357.3K | $622.2K | $1.1K | $394.9K | |
| Net Income to Company | -- | -$11.3M | -$54.6M | -$372.4M | -$144.2M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -$60K | |
| Net Income to Common Excl Extra Items | -$160.4K | -$11.3M | -$54.6M | -$372.4M | -$144.2M | |
| Basic EPS (Cont. Ops) | -$0.00 | -$0.30 | -$0.71 | -$3.91 | -$0.59 | |
| Diluted EPS (Cont. Ops) | -$0.00 | -$0.30 | -$0.71 | -$3.91 | -$0.59 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | -$150.3K | -$4.8M | -$16M | -$145.1M | -$161.3M | |
| EBIT | -$150.3K | -$4.8M | -$16M | -$146M | -$169.9M | |
| Revenue (Reported) | -- | -- | $3.4M | $3.4M | $3.7M | |
| Operating Income (Reported) | -$150.3K | -$4.8M | -$16M | -$146M | -$169.9M | |
| Operating Income (Adjusted) | -$150.3K | -$4.8M | -$16M | -$146M | -$169.9M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | $3.4M | $2.6M | $2.7M | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | $171.4K | $1M | $6.6M | |
| Gross Profit | -- | -- | $3.2M | $1.6M | -$4M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | $1.7M | $7.2M | $41.9M | $33.9M | |
| Selling, General & Admin | $1.2K | $3.4M | $6.6M | $100.3M | $86.6M | |
| Other Inc / (Exp) | -- | $17.2M | -$660.2K | -$226.5M | $11.1M | |
| Operating Expenses | $150.2K | $3.5M | $13.9M | $142.3M | $120.5M | |
| Operating Income | -$150.2K | -$3.5M | -$10.6M | -$140.7M | -$124.5M | |
| Net Interest Expenses | -- | -- | $37.7M | $3.1M | $15.8M | |
| EBT. Incl. Unusual Items | -$160.4K | -$9.7M | -$49M | -$363.2M | -$106.2M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | $357.2K | -- | -- | $394.9K | |
| Net Income to Company | -$160.4K | -$10.1M | -$49M | -$363.2M | -$106.6M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -$60K | |
| Net Income to Common Excl Extra Items | -$160.4K | -$10.1M | -$49M | -$363.2M | -$106.6M | |
| Basic EPS (Cont. Ops) | -$0.00 | -$0.27 | -$0.56 | -$3.80 | -$0.42 | |
| Diluted EPS (Cont. Ops) | -$0.00 | -$0.27 | -$0.56 | -$3.80 | -$0.42 | |
| Weighted Average Basic Share | $111.6M | $111.6M | $262.5M | $458.3M | $739M | |
| Weighted Average Diluted Share | $111.6M | $111.6M | $262.5M | $458.3M | $739M | |
| EBITDA | -$150.2K | -$3.5M | -$10.6M | -$139.9M | -$118.3M | |
| EBIT | -$150.2K | -$3.5M | -$10.6M | -$140.7M | -$124.5M | |
| Revenue (Reported) | -- | -- | $3.4M | $2.6M | $2.7M | |
| Operating Income (Reported) | -$150.2K | -$3.5M | -$10.6M | -$140.7M | -$124.5M | |
| Operating Income (Adjusted) | -$150.2K | -$3.5M | -$10.6M | -$140.7M | -$124.5M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | -- | $327.7K | $1K | $2.6M | $776.8M | |
| Short Term Investments | -- | -- | -- | -- | $606.5M | |
| Accounts Receivable, Net | -- | -- | $507.8K | $81K | $17.4K | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | $241K | $168.4K | -- | -- | |
| Other Current Assets | -- | $431.4K | $326K | $327.5K | $7.5M | |
| Total Current Assets | -- | $568.7K | $169.3K | $3M | $784.3M | |
| Property Plant And Equipment | -- | -- | -- | $382.4K | $7.8M | |
| Long-Term Investments | -- | $293.3M | $300.3M | -- | -- | |
| Goodwill | -- | -- | -- | -- | $120.9M | |
| Other Intangibles | -- | -- | -- | -- | $25.4M | |
| Other Long-Term Assets | -- | -- | -- | -- | -- | |
| Total Assets | -- | $294M | $300.5M | $3.4M | $938.3M | |
| Accounts Payable | -- | -- | -- | $871.2K | $1.5M | |
| Accrued Expenses | -- | -- | -- | $729.5K | $7.4M | |
| Current Portion Of Long-Term Debt | -- | -- | $4.1M | $41.8M | $4.8M | |
| Current Portion Of Capital Lease Obligations | -- | -- | $149.4K | $160.3K | $1.1M | |
| Other Current Liabilities | -- | -- | $14.9M | $17.3M | -- | |
| Total Current Liabilities | -- | $1.3M | $23.5M | $65.3M | $17.3M | |
| Long-Term Debt | -- | -- | -- | $3.7M | $7.4M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | -- | $11.3M | $33.5M | $70.1M | $24.7M | |
| Common Stock | -- | $293.3M | $299M | $8.8K | $22.1K | |
| Other Common Equity Adj | -- | -- | -- | -- | -- | |
| Common Equity | -- | $282.7M | $267M | -$66.8M | $913.6M | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | -- | $282.7M | $267M | -$66.8M | $913.6M | |
| Total Liabilities and Equity | -- | $294M | $300.5M | $3.4M | $938.3M | |
| Cash and Short Terms | -- | $327.7K | $1K | $2.6M | $776.8M | |
| Total Debt | -- | -- | -- | $45.5M | $12.2M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $1.5M | $1K | $3.3M | $672.9M | $1.1B | |
| Short Term Investments | -- | -- | -- | $300.7M | -- | |
| Accounts Receivable, Net | -- | -- | $310.5K | $14.8K | $587.8M | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | $227.8K | -- | -- | -- | |
| Other Current Assets | -- | -- | $327.6K | $9.2M | -- | |
| Total Current Assets | $1.5M | $228.8K | $3.3M | $682.1M | $1.7B | |
| Property Plant And Equipment | -- | -- | -- | $7.6M | $6.3M | |
| Long-Term Investments | $293.3M | $297.9M | $307.2M | -- | $1.5B | |
| Goodwill | -- | -- | -- | $132.2M | -- | |
| Other Intangibles | -- | -- | -- | $15.8M | -- | |
| Other Long-Term Assets | -- | -- | -- | -- | -- | |
| Total Assets | $294.7M | $298.1M | $310.5M | $837.8M | $3.3B | |
| Accounts Payable | -- | -- | -- | $1.5M | $7.7M | |
| Accrued Expenses | -- | -- | -- | $3.9M | -- | |
| Current Portion Of Long-Term Debt | -- | -- | $41.8M | $4.7M | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | $157.5K | $734K | -- | |
| Other Current Liabilities | -- | -- | $15.4M | -- | -- | |
| Total Current Liabilities | $214.1K | $14.8M | $53.8M | $14.4M | $38.6M | |
| Long-Term Debt | -- | -- | -- | $6.9M | $948M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $10.3M | $24.9M | $63.8M | $21.2M | $987M | |
| Common Stock | $293.3M | $297.2M | $306.1M | $21.5K | $28.1K | |
| Other Common Equity Adj | -- | -- | -- | -- | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | $190K | |
| Total Equity | $284.5M | $273.2M | $246.7M | $816.5M | $2.3B | |
| Total Liabilities and Equity | $294.7M | $298.1M | $310.5M | $837.8M | $3.3B | |
| Cash and Short Terms | $1.5M | $1K | $3.3M | $672.9M | $1.1B | |
| Total Debt | -- | -- | -- | $11.6M | $952.7M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -$2M | -$15.6M | -$58.2M | -$400.9M | |
| Depreciation & Amoritzation | -- | $6.5K | $145.9K | $214.2K | $3.4M | |
| Stock-Based Compensation | -- | -- | -- | -- | $107.4M | |
| Change in Accounts Receivable | -- | -$23.3K | -$507.8K | $426.9K | $63.6K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -$923.4K | -$1.5M | -$9.7M | -$61M | |
| Capital Expenditures | -- | -- | -- | $2.2K | $12M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -$293.3M | -$2.8M | -$2.2K | -$618.6M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | $22.6M | $15.4M | $3.5M | $47.5M | |
| Long-Term Debt Repaid | -- | -- | -- | -$1M | -- | |
| Repurchase of Common Stock | -- | -- | $58.9K | -- | $2.9M | |
| Other Financing Activities | -- | -- | -- | -- | $233M | |
| Cash From Financing | -- | $22.4K | $3.9M | $2.5M | $847.2M | |
| Beginning Cash (CF) | -- | $327.7K | $1K | $2.6M | $170.2M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -$294.2M | -$329.3K | -$7.2M | $167.7M | |
| Ending Cash (CF) | -- | -$293.8M | -$328.4K | -$4.7M | $337.9M | |
| Levered Free Cash Flow | -- | -$923.4K | -$1.5M | -$9.7M | -$73M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$159.2K | -$3.8M | -$26M | -$19.2M | -$54.8M | |
| Depreciation & Amoritzation | -- | -- | $18.8K | $963.4K | $2.1M | |
| Stock-Based Compensation | -- | -- | -- | $45.7K | $10.5M | |
| Change in Accounts Receivable | -- | -- | $102.7K | $2.7K | $18.5K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $53.6K | -$398.7K | -$3.1M | -$21.9M | $10.1M | |
| Capital Expenditures | -- | -- | -- | $9.9M | $1.4B | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$293.3M | -$2.9M | -- | -$310.6M | -$1.8B | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | $2.5M | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | $2.9M | $6.4M | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | $294.7M | $3.3M | $2.5M | $360.7M | -$11M | |
| Beginning Cash (CF) | $1.5M | $1K | $3.3M | $372.1M | $501.9M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $1.5M | -$2K | -$596.3K | $28.2M | -$1.8B | |
| Ending Cash (CF) | $3M | -$900 | $2.7M | $400.3M | -$1.3B | |
| Levered Free Cash Flow | $53.6K | -$398.7K | -$3.1M | -$31.8M | -$1.4B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -$11.3M | -$54.6M | -$372.4M | -$144.2M | |
| Depreciation & Amoritzation | -- | -- | -- | $1.1M | $8.6M | |
| Stock-Based Compensation | -- | -- | -- | $84.6M | $68.8M | |
| Change in Accounts Receivable | -- | -- | -- | $295.8K | -$283.9K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -$2.5M | -$10.6M | -$51.9M | -$5.7M | |
| Capital Expenditures | -- | -- | $2.2K | $12M | $1.4B | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -$2.9M | $56.7K | -$312.8M | -$2.3B | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | -- | -- | $48.5M | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | $58.9K | $2.9M | $14.7M | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | $3.8M | $2.6M | $735M | $2.4B | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -$1.5M | -$8M | $370.3M | $129.8M | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -$2.5M | -$10.6M | -$63.9M | -$1.4B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$160.4K | -$10.1M | -$49M | -$363.2M | -$106.6M | |
| Depreciation & Amoritzation | -- | -- | $52.1K | $972.7K | $6.2M | |
| Stock-Based Compensation | -- | -- | -- | $84.6M | $46.1M | |
| Change in Accounts Receivable | -- | -- | $197.2K | $66.1K | -$281.4K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $52.9K | -$1.3M | -$10.5M | -$52.6M | $2.6M | |
| Capital Expenditures | -- | -- | $2.2K | $12M | $1.4B | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$293.3M | -$2.9M | -$2.2K | -$312.8M | -$2B | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | $2.5M | $47.5M | $960M | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -$34.4M | |
| Repurchase of Common Stock | -- | -- | -- | $2.9M | $14.7M | |
| Other Financing Activities | -- | -- | -- | $233M | $250K | |
| Cash From Financing | $294.7M | $3.8M | $2.5M | $735M | $2.3B | |
| Beginning Cash (CF) | $1.5M | $45.5K | $3.5M | $989.8M | $3B | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $1.5M | -$326.7K | -$8M | $369.6M | $331.7M | |
| Ending Cash (CF) | $3M | -$281.2K | -$4.4M | $1.4B | $3.3B | |
| Levered Free Cash Flow | $52.9K | -$1.3M | -$10.5M | -$64.7M | -$1.4B | |
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