- Ernie Garcia III is the chief executive of Carvana, and his father, Ernie Garcia II, is its largest shareholder. The two saw their wealth dip roughly $288 million in the new year so far. The question is where the stock will go next.
Yesterday, a prominent short-seller accused used-car retailer Carvana of lax underwriting, accounting manipulation, and undisclosed transactions worth hundreds of millions of dollars with a related party. The company called the short report “intentionally misleading and inaccurate” in a statement to publications.
