Why Carvana Is Crashing Into the Ditch Again Today
Shares of online used car dealer Carvana (NYSE: CVNA) are careening out of control again, falling 14.3% at 11:14 a.m. ET on Monday, continuing their sharp, downward spiral that began after it reported less-than-stellar third-quarter earnings.
Carvana received a bit of a reprieve last week. The stock spiked higher on Friday after a better-than-expected inflation report suggested the Federal Reserve might ease up on its interest rate hikes, which would make financing a car (and Carvana's own debt) not as expensive as feared.
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Source Fool.com
