Carvana (CVNA) Declines on Official S&P 500 Inclusion. Here’s Why

We recently published 10 Stocks Struggling to Shine Ahead of Christmas. Carvana Co. (NYSE:CVNA) is one of the worst performers on Monday.

Carvana extended its losses to a second day on Monday, shedding 3.69 percent to finish at $433.59 apiece as investors appeared to have already priced in its inclusion in the S&P 500.

The S&P Dow Jones Indices said that the update officially took effect on the same day, December 22, following an index rebalancing earlier this month.

Month-to-date, Carvana Co.’s (NYSE:CVNA) shares are now up by 15.8 percent.

Apart from Carvana Co. (NYSE:CVNA), the S&P Dow Jones Indices also added CRH PLC and Comfort Systems USA to the S&P 500.

Newly added companies typically see a boost in their share prices ahead of the index rebalancing, as funds tracking the index would need to load up shares in the company and dispose of those that were removed to mirror the benchmark.

In other news, Carvana Co. (NYSE:CVNA) said that it would become the title sponsor of The PPA Masters pickleball tournament at the Mission Hills Country Club in Rancho Mirage, California, on Jan. 12-18, 2026.

The sponsorship, which would be renamed The Carvana Masters, would pave the way for an expanded brand exposure among thousands of pickleball fans and players.

Carvana Co. (CVNA)'s CEO Is "A Champion," Says Jim Cramer

The PPA Masters is one of the most prestigious pickleball tournaments in the US.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.