What the Smartest Investors Know About Carvana Stock
Carvana (NYSE: CVNA) was a Wall Street darling, with the shares at one point up more than 2,500% from their initial public offering (IPO) price. And then reality set in and the shares are now trading for less than their IPO price. Things could get even worse.
Wall Street loves a good story, which often leads to investors missing important warning signs. Carvana is a company that has been flashing warning signs for a long time.
Sure, the car dealer's vehicle vending machines are an awesome thing to behold. But that's not enough to make the stock a good investment. Nor is a plan to simply bring the internet to the highly fragmented, competitive used car sector.
Source Fool.com
