Carvana Co. shares bounced back from a steep selloff after Wall Street analysts rushed to defend the online used-car dealer’s business following a report from short seller Gotham City Research that accused the company of overstating earnings.
Carvana Co. shares bounced back from a steep selloff after Wall Street analysts rushed to defend the online used-car dealer’s business following a report from short seller Gotham City Research that accused the company of overstating earnings.
A worker loads vehicles onto a transporter at a Carvana vending machine location in Uniondale, New York. Photographer: Angus Mordant/Bloomberg
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.
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.
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