The Collapse of Carvana, the “Amazon of Used Cars”, Continues

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The Street

By Luc Olinga Online used-vehicle dealer faces a mountain of financial and legal challenges. The sky is not clearing up for Carvana. On the contrary, big clouds continue to gather over the company which was one of the big winners of the covid-19 pandemic, with a massive growth. Since announcing its quarterly results on November 3, Carvana (CVNA) – Get Free Report shares have lost 44% of their value and are currently trading at $8.06 versus $14.35 on that day. This translates into a decline in market capitalization of approximately $1.1 billion in two weeks. Carvana currently has a market value…

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