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Carvana stock
Posted on 7/19/23 at 6:11 am
Posted on 7/19/23 at 6:11 am
Had this when it was at 6 bucks and sold it because i was told by the so-called professionals this was going bankrupt. 
If anybody else got in cheap and held congrats. Ah my weak hands 
If anybody else got in cheap and held congrats. Ah my weak hands This post was edited on 7/19/23 at 6:16 am
4
Posted on 7/19/23 at 7:23 am to FLObserver
Carvana basically became a meme stock and got bailed out. As long as people line up to buy their offerings they can keep diluting to stay in business.
The underlying business while improved is still losing money quickly. I wouldn't hold this stock.
The underlying business while improved is still losing money quickly. I wouldn't hold this stock.
Posted on 7/19/23 at 7:56 am to FLObserver
quote:
Had this when it was at 6 bucks and sold it because i was told by the so-called professionals this was going bankrupt.
Carvana themselves said they were probably going bankrupt.
They were bailed out by retail investors the same way AMC was. The stock popped 30% today after they announced a debt restructuring deal but also announced their intention to sell up to $1B in stock too. People are weird.
Posted on 7/19/23 at 9:47 am to slackster
quote:
The stock popped 30% today
Up to 35% now
Posted on 7/19/23 at 10:49 am to FLObserver
quote:
Carvana stock is up over *1,600%* in the past 7 months.
The company pulled off the unthinkable this morning:
— Reached a deal with noteholders to reduce its total debt by $1.2B
— Raising $1B in capital by selling new shares
— Reducing annual interest expense by $430M over the next 2 years
After a crazy 12 months for the company, it looks like it’s going to make it after all.
LINK
The company is literally back from the dead. Weren't they like days from bankruptcy?
Posted on 7/19/23 at 11:12 am to hikingfan
temporary reprieve - they are not going to make it in the long run.
Stupid business model with overly expensive "show rooms". They've never made a profit or turned positive cash flow - ever. Debt level is still too burdensome for them to survive.
Stupid business model with overly expensive "show rooms". They've never made a profit or turned positive cash flow - ever. Debt level is still too burdensome for them to survive.
Posted on 7/19/23 at 11:17 am to hikingfan
quote:
The company is literally back from the dead. Weren't they like days from bankruptcy?
A lot of times, companies that go bankrupt almost go bankrupt several times before they actually do. Not saying that will definitely happen to Carvana, but it could.
Posted on 7/19/23 at 3:00 pm to MAROON
quote:
Stupid business model
This. I've said since day one that their business model makes no sense. 100% unsustainable.
Posted on 7/19/23 at 3:39 pm to kcpizzle
Dont really care if its sustainable just the fact that had around 50 shares at 6.00 sold it at around the same price and now at 55.00.
Posted on 7/19/23 at 7:00 pm to FLObserver
It was only a matter of time after this:
Posted on 7/19/23 at 8:16 pm to euphemus
Posted on 7/20/23 at 4:12 am to euphemus
Cramer probably getting ready throw a buy rating on this. That should be the indicator to sell because then it heads back to 2.
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