Why Carvana Stock Skidded on Tuesday

Shares of Carvana (NYSE: CVNA) slumped on Tuesday, falling as much as 7.7%. As of 11:39 a.m. ET today, the stock was still down 1.7%.

The catalyst that sent the online car seller lower was a report it has once again run afoul of state laws.

Reports emerged late Monday that Carvana's license in Illinois has once again been suspended, effectively banning the company from selling cars in that state.

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Source Fool.com