CFOTO | Future Publishing | Getty Images Noted short seller Hindenburg Research disclosed a bet against Carvana on Thursday, claiming the online used-car retailer’s recent turnaround is a “mirage” that is being propped up by unstable loans and accounting manipulation. The report, called “Carvana: A Father-Son Accounting Grift For The Ages,” centers on Carvana’s practice … Read more
A Carvana sign and signature vending machine in Tempe, Arizona. Michael Wayland | CNBC Carvana on Wednesday raised its 2024 earnings guidance after the online used-car retailer significantly topped Wall Street’s third-quarter expectations. Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG: Earnings per share: 64 cents vs. 25 … Read more
In an aerial view, a sign is posted on the exterior of a Carvana car vending machine on in Daly City, California, on July 19, 2023. Justin Sullivan | Getty Images Shares of Carvana jumped as much as 14% during after-hours trading Wednesday as the company topped Wall Street’s expectations for the second quarter and … Read more
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the used car retailer reported record results and turned a profit during the first quarter. Here is how the company performed in … Read more
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Carvana : Shares of the buying and selling online platform were soaring 35% on Thursday after a record first quarter. CEO Ernie Garcia realized, unlike Wall Street analysts had, that he was OK after getting the Apollo money, … Read more
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Carvana shares surged 30% Friday after posting its first-ever annual profit and receiving a pair of upgrades by Wall Street analysts. The used-car retailer has been trimming inventory and expenses as it rebounds from … Read more
A Carvana sign and signature vending machine in Tempe, Ariz. Michael Wayland/CNBC PHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view. Carvana over the last 18 months aggressively restructured its … Read more
The total addressable market for new and used car sales in the U.S. is estimated to be somewhere between $2.5 trillion and $3 trillion, according to the National Automobile Dealers Association. And e-commerce behemoth Amazon is attempting to do what insiders say no one has been able to do yet: bring a seamless online shopping … Read more
