Carvana (CVNA) Stock Tumbles 14% on Short-Seller Fraud Claims

TLDR Carvana (CVNA) shares plunged 14.2% Wednesday to $410.04 after Gotham City Research accused the company of overstating 2023-2024 earnings by over $1 billion Short-seller alleges Carvana inflated profits through transactions with DriveTime and Bridgecrest, companies owned by CEO’s father Ernest Garcia II Carvana rejected the claims as “inaccurate and intentionally misleading” and reaffirmed its [...]

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