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Message
re: Carvana stock
Posted on 7/19/23 at 10:49 am to FLObserver
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?
2
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.
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