Carvana's (NYSE: CVNA) stock price plummeted 97% this year as investors fretted over the online used car dealer's slowing growth, widening losses, and exposure to macroeconomic headwinds. But after that harrowing decline, Carvana trades at just 0.1 times this year's sales. So could Carvana be a deep-value play at these prices?
Carvana was founded 10 years ago, and it aimed to disrupt traditional user car dealerships with two main strategies. First, it streamlined the sales process with non-negotiable prices and a near-instant approval of financing and sales on its digital platform. Second, it built multi-story vehicle "vending machines" that required a lot less space than used car lots.
Image source: Carvana.
Source Fool.com