Is Carvana Stock on the Road to Zero?
When Carvana (NYSE: CVNA) stock climbed to $376.83 nearly a year ago, investors were undoubtedly in Carvana Nirvana. Fast-forward to mid-2022, however, and the stock has plunged beneath its March 2020 pandemic low.
Amid this gut-wrenching backdrop, fearless value investors might be tempted to jump in. Yet, let's not forget the old but still timely Benjamin Graham/Warren Buffett principle that price is what you pay, but value is what you actually get. So, is there any value to be gained from buying Carvana stock at its current price?
That's a tough question to answer, as it's difficult to find value in a stock when the company is beset with one problem after another. Not to be the bearer of bad news, but Carvana's issues aren't in the rearview mirror, and eventually, the shares might not have any value at all.
Source Fool.com