Why Carvana Continues to Head in the Wrong Direction
Shares of Carvana (NYSE: CVNA) continue their skid into the ditch Monday morning with the stock falling 6.3% as of 10:57 a.m. ET.
While there was no company-specific news today to account for the sell-off, fears for the online used car dealer continue to mount. Bloomberg reported last week Carvana's lenders were banding together to work together in the event the dealer goes belly-up. Some 70% of the creditors, representing $4 billion in loans, have agreed to the strategy.
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Source Fool.com
