With a 4.67 billion market cap, Carvana Co. (CVNA) operates an e-commerce platform for buying and selling used cars in the United States. The company’s platform enables customers to research and identify a vehicle, inspect it using its 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle, and schedule delivery or pick-up from their electronic devices.
Investors have been bearish about CVNA due to its disappointing financials and decelerating growth. The company has recently faced several headwinds, including reconditioning and logistics network disruptions, high used vehicle prices, rapid hikes in interest rates, surging fuel prices, and other macroeconomic uncertainties.
