Carvana's shares dropped by 11% due to analysts' skepticism over the company's optimistic Q2 profit forecast. While the firm's profit projection of over $50 million outperformed most analysts' expectations, the challenges of selling high-priced cars amidst the recession make analysts think anything good that has happened must have been a fluke.
GM follows Ford's lead by adopting Tesla's North American Charging Standard (NACS) for its EVs. In a Twitter Spaces conversation with Tesla CEO Elon Musk, GM's CEO Mary Barra announced the decision, offering GM EV owners access to thousands of Tesla Superchargers. GM-produced EVs featuring Tesla's charging ports are set to arrive in 2025.