Carvana Co.’s shares fell the most in more than nine months after a short seller alleged the online auto retailer overstated earnings with the help of close ties to businesses controlled by the family of Chief Executive Officer Ernie Garcia III.
A Carvana vending machine in Uniondale, New York, US, on Tuesday, April 16, 2024. Carvana Co. is scheduled to release earnings figures on May 1.