Used car company earns $ 5 billion in one day

The share of the American "Carvana" company for selling and renting cars on the New York Stock Exchange rose on Tuesday by nearly 150% since the beginning of the year, as the company recorded profits of about $ 5 billion in just one day.

"The epidemic is urging consumers to look for used cars, and Carvana is the main beneficiary of this trend," said Alexander Potter, an analyst at Piper Sandler.

The company allows customers to choose from more than 19,000 cars and complete purchases in less than 10 minutes, according to its website.

Buyers have the option to pick up their vehicle from over a dozen automated drop-off points spread across the country.

The company's surging profits have made owner Garcia Sr., and CEO Garcia Jr., among the wealthiest people in the United States.

Together, the two are worth $ 21.4 billion, according to the Bloomberg Billionaires Index.