Is Carvana (CVNA) the Best Stock in Man GLG's Portfolio to Buy Now?

Man GLG holds $121.39 million worth of Carvana Co. (NYSE:CVNA) stock, representing 0.23% of its 13-F portfolio. The company is included in Man GLG’s list of 10 stock picks with the highest upside potential.

On October 21, 2025, JPMorgan increased its price target on Carvana Co. (NYSE:CVNA) from $425 to $490, while maintaining an “Overweight” rating.

Ahead of Carvana Co. (NYSE:CVNA)’s upcoming Q3 earnings release on October 29, the investment firm added the stock to its “Positive Catalyst Watch.” The firm believes the company will report another beat in Q3, leading to raised guidance. Furthermore, JPMorgan notes the company’s operational strength has earned it a competitive edge in the industry. Moreover, the firm dismissed concerns over consumer and auto credit, calling them overstated.

The same day, Carvana Co. (NYSE:CVNA) announced the expansion of its same-day vehicle delivery service to the greater San Diego area. Within the last month, the company announced expansions in Salt Lake City, San Francisco, and Seattle.

Carvana Co. (NYSE:CVNA) runs an e-commerce platform, enabling the buying and selling of used cars in the U.S.

While we acknowledge the potential of CVNA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.