Carvana Board Approves 5-for-1 Stock Split

Carvana's board of directors approved a 5-for-1 forward stock split on Friday, marking the first such action in the company's history since its founding in 2012. The move, pending shareholder approval at the annual meeting on May 5, aims to make shares more accessible to employees and individual investors by reducing the nominal price from around $300 to approximately $60 per share. If approved, the split will take effect after market close on May 6, with trading on a split-adjusted basis beginning May 7 under the ticker symbol CVNA on the New York Stock Exchange.

The announcement followed a strong 2025 for the online used car retailer, which reported record retail unit sales of nearly 600,000 vehicles and achieved an adjusted EBITDA margin of 11 percent, alongside net income of $1.9 billion. Company leaders highlighted the split as a way to align employee interests with long-term growth. "We're proud to have an incredible team that truly owns outcomes," CEO Ernie Garcia said in a statement. CFO Mark Jenkins added that the decision supports Carvana's discounted Employee Stock Purchase Plan, which allows full-time team members to buy shares at a reduced price based on tenure.