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Why Carvana Stock Is Falling Hard Today

TheMotleyFool

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Shares of the online car-buying company Carvana (NYSE: CVNA) were plunging this morning, likely after a Barron's article published over the weekend said that the company, in some cases, sold cars before it even had the title to them.

The automotive stock was down 6.3% as of 11:18 a.m. ET.

Barron's said in its reporting that Carvana was selling cars too quickly during the pandemic, when demand for buying a car online soared, which led to problems in receiving the proper title for vehicles for some customers.

Source Fool.com

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