(NYSE: CVNA) shares are on fire right now, with the stock skyrocketing on debt refinancing news. But investors should step back from the hype and take a close look at the business. Yes, the used-car dealer is moving in the right direction, but it's still not a reliably profitable company. That's a problem.

The big story for Carvana happened on July 19, when the company announced it had reached an agreement with key lenders to give it some financial breathing room. The stock rose dramatically because, without such a deal, there was a concern that its heavy debt load could push it into bankruptcy court.

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Source Fool.com