Carvana expects to achieve adjusted profit sooner than expected amid restructuring; shares surge
DownvoteThe embattled used car retailer has been working to reduce costs, narrow losses and increase profits per vehicle. The company's stock fell roughly 98% last year as it overspent to gain sales and increase vehicle inventory amid weakening demand. Carvana said Thursday it achieved a previously announced reduction in selling, general and administrative expenses of $1 billion a…