Well-known investor Josh Brown, who frequently appears on CNBC, yesterday during an appearance on the network identified online auto retailer Carvana Co. (CVNA) as one of the best stocks in the market.

Brown is the CEO of Ritholtz Wealth Management.Jim Cramer on Carvana (CVNA): "Carvana Could Surprise Bears Big Time"

A customer buying a used car with the help of a finance specialist.

Why Brown Is Very Bullish on Carvana Co. (CVNA)

The Manheim Index, which tracks used vehicle prices, unexpectedly increased in April, Brown reported. According to the well-known investor, "Carvana is probably the most obvious beneficiary of" the increase in used-vehicle prices.

Additionally, Carvana Co. (CVNA) reported excellent first-quarter financial results on May 7 as its revenue surged 38% versus the same period a year earlier and its bottom line soared 6 times year-over-year to $373 million, according to Brown.

Moreover, the company's shares have been performing very well recently, added Brown.

More About Carvana Co. (CVNA)

Analysts on average expect CVNA's earnings per share to jump to $4.80 this year from $3.15 in 2024. Their mean EPS estimate for 2026 is $5.84.

In the last month, the stock has jumped 40%, while it has added 9.5% in the last three months.

While we acknowledge the potential of CVNA, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CVNA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. This article is originally published at Insider Monkey.

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