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Started By
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Anyone buy CVNA Carvana Co when it was near Zero??
Posted on 10/31/24 at 9:27 am
Posted on 10/31/24 at 9:27 am
Owned 15 shares at 11 and sold it at 33. Now near 250 .Yeah Boy! 
6
Posted on 10/31/24 at 10:15 am to FLObserver
Woah. Had no idea CVNA was up that high.
Last time I checked on them around 2 years reports were the company was pretty much heading towards bankruptcy.
How did they turn it around?
Last time I checked on them around 2 years reports were the company was pretty much heading towards bankruptcy.
How did they turn it around?
Posted on 10/31/24 at 10:31 am to Miglez
quote:
How did they turn it around?
Mark Jenkins turned it around. Debt restructuring and got costs inefficiencies under control. The company cut $1.1 billion of annualized selling, general, and administrative expenses, Covid boom helped, then the high rates crushed them due to their debt, but now that the company is more efficiently run, has restructured debt, and it has carried that momentum of 2023 through 2024. It is a remarkable story.
This post was edited on 10/31/24 at 5:09 pm
Posted on 10/31/24 at 11:02 am to Miglez
I thought I remembered reading an article where they made a pretty compelling case they were cooking the books somehow.
Posted on 10/31/24 at 11:47 am to FLObserver
Yeah i would say from almost certain death to climbing to the mountain top. Always hindsight but if anyone bought a 100 shares or more when it was at 2 then they are on cloud nine with how this has gone.
Posted on 10/31/24 at 12:39 pm to Miglez
They didn't. It's only a matter of time before it drops back to zero.
Posted on 10/31/24 at 3:12 pm to FLObserver
It currently trades at 100x earnings looooooooooooooooooooooooooooool
Posted on 10/31/24 at 3:39 pm to FLObserver
Up 5500% from its 24 month low.
Wow.
Wow.
Posted on 10/31/24 at 3:45 pm to FLObserver
Bought in at $19 or so 2 years ago. It sunk I forgot about it. Sold last week at $195. Follow, subscribe, and like for more stock tips.
Posted on 11/1/24 at 8:46 am to BlackenedOut
I am currently in the market for a crystal ball to know when the Carvana Cooked The Books new report drops. Cause it's coming, just a matter of when.
Posted on 11/1/24 at 8:58 am to evil cockroach
The business for a while has been staying a float by originating a ton of subprimte loans backed by Ally it seems. Some good resources out there if you look into Ally as well. Ally announced that auto delinquencies have spiked, and they are about to tighten lending.
This might be their last lifeline, unless they can manufacturer another run up on the stock and issue new shares like last time.
However ole Ernest Garcia been unloading millions of shares every week selling like crazy. Just like with Drive Time he ran before it, he knows the gig will be up eventually
This might be their last lifeline, unless they can manufacturer another run up on the stock and issue new shares like last time.
However ole Ernest Garcia been unloading millions of shares every week selling like crazy. Just like with Drive Time he ran before it, he knows the gig will be up eventually
Posted on 11/1/24 at 9:39 am to FLObserver
It is amazing what has transpired for them, they should not exist right now.
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