Carvana, the Amazon of Used Cars, Is Collapsing

Carvana, the Amazon of used cars, on Wednesday is having one of its worst days on Wall Street.

Carvana shares fell more than 36% to $4.27 as doubts about the company’s ability to meet its payment deadlines piled up.

The figures are terrible: The stock has lost 45% since the beginning of December. The month of November was brutal as Carvana shares fell 43%. The stock, which ended 2021 at $231.79, is now down 98% since January. 

The market capitalization now sits at $760 million. In a nutshell, the comparative market value, if shares outstanding were the same in both periods, would have been $41.45 billion on Dec. 31, 2021.

Source: https://www.thestreet.com/technology/carvana-the-amazon-of-used-cars-collapses?puc=yahoo&cm_ven=YAHOO&yptr=yahoo