Carvana stock rises after board approves 5-for-1 stock split

Carvana stock rose 3% premarket after announcing its first-ever stock split. The board approved a 5-for-1 split to make shares more accessible to employees. Shareholders will vote on the proposal on May 5. CFO Mark Jenkins noted the decision follows record profitability and growth in 2025, highlighting the company's leadership in the industry.