May. 12 at 5:49 PM
$CVNA Total scam stock. Lets all pay 80B dollars for a company that maybe makes 2B a year and has 7 Billion in debt. Also that 2B is likely not even real since 2 short reports indicate losses are being absorbed by Drivetime. Also, let’s line the Garcia families pockets with Billions of dollars by overpaying for their scam business. Even if we give the benefit of the doubt and say their accounting and profits are legit… they are highly leveraged and in a highly cyclical industry. The company will go bankrupt again when the used car market falters. Paying 50x earnings for this type of company is absolutely insane. Especially given the economic backdrop… high inflation, high gas, interest rate hikes coming, bond yields are up, and the average American is super stretched and burried in debt. This will not end well for Carvana or their investors.
