Carvana’s Share Price, Down 95% Since Pandemic Peak, Hits Another Roadblock

Few stocks suffered more after interest rates started rising than online used car seller Carvana its shares off 95% since their pandemic peak in August 2021.

Carvana’s shares took their latest leg down, falling by a third in June and continuing to decline in July, because of a hitch in its strategy: Investor demand cooled for its customer loans, a major source of revenue.