Online car dealer Carvana (NYSE: CVNA) has suffered one of the sharpest drops of any stock in this bear market. Its shares are currently down almost 99% from their highs. Wall Street is rightly concerned about the company's financial health. Carvana's debt is trading at less than 50 cents on the dollar, a sign that bond investors aren't confident that the company will pay back its loans.

So how dire is Carvana's situation, and can investors expect (or at least hope for) a long-term recovery? Fortunately, we can use data to paint a picture of the company's troubles and look at the hard road ahead. Don't buy or sell the stock before getting the complete picture below.

Carvana stock traded north of $350 per share during the height of the pandemic. Fiscal stimulus and supply shortages created surging demand (and prices) for used vehicles. Meanwhile, low interest rates meant cheap debt that Carvana could use to fund rapid growth. It was a dream scenario for the company.

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Source Fool.com