In the dynamic world of stock markets, there are only a few stories that capture investor attention like Carvana's (NYSE: CVNA). Over the past year, this used car e-retailer has witnessed a remarkable run on the bourses, with its stock surging more than 270%. This meteoric rise has not only outpaced the broader market but also left its peers — such as CarMax (NYSE: KMX), AutoNation (NYSE: AN) and Sonic Automotive (NYSE: SAH) — in the dust.  However, after such a significant rally, the question on every investor's mind is whether Carvana can sustain this momentum, or is it time to cash in on the gains? 1-Year Price Performance Image Source: Zacks Investment Research From the Brink of Bankruptcy to an Epic Turnaround Carvana's journey over the past two years has been nothing short of dramatic. In 2022, the company was teetering on the edge of bankruptcy, plagued by high debt and operational inefficiencies. The situation was dire enough for many investors to write off the stock, which had plummeted to under $5 per share. However, Carvana's management executed a successful debt restructuring deal that effectively saved the company from collapse. This restructuring was not just a financial step but part of a broader strategic shift. Carvana pivoted from an aggressive growth strategy to a focus on operational efficiency and cost-cutting. The company's three-step plan — aimed at driving positive adjusted EBITDA, achieving significant adjusted EBITDA per unit and eventually returning to growth — has been central to its revival. ...