Why Investors Have Jumped Off The Carvana Bandwagon
KEY POINTS
-Carvana’s rapid growth during the coronavirus pandemic has since turned into a nightmare for investors amid rising interest rates, inflation and self-inflicted wounds.
-Shares of Carvana have fallen from an all-time high of nearly $377 per share to as little as $6.50 per share this week – a 98% decline.
-It has been a steady run of bad news and financial results since the stock’s peak, leading to concerns from investors about the company’s long-term trajectory.
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