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Oleksandr Pylypenko

Carvana Stock Gained 284% in 2024. This Famous Short-Seller Says It’s Time to Abandon Ship.

Carvana Hindenburg CVNA Hindenburg Research Ernie Garcia III Ally Financial

In 2024, Carvana (CVNA) experienced a remarkable turnaround, with its stock soaring by an incredible 284%, taking the market by surprise. The online used-car retailer, once teetering on the brink of bankruptcy, seemed to have reversed its fortunes, reaching a staggering valuation of over $50 billion.

Despite these gains, not everyone is convinced of the sustainability of Carvana’s recovery.

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