US EditionHindenburg Accuses Carvana of Financial Misconduct in Scathing Report
- Hindenburg Research has accused Carvana of financial misconduct, stating its recent turnaround is a "mirage" supported by unstable loans and accounting manipulation.
- Hindenburg claims to have found $800 million in loan sales "to a suspected undisclosed related party," indicating accounting manipulation and lax underwriting.
- The report suggests that insiders have cashed out billions in stock, raising concerns about Carvana's inflated share price.
- Despite the negative report, Carvana's shares rose, with Hindenburg calling the stock "exorbitantly valued" compared to competitors CarMax and AutoNation.
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35 Articles
35 Articles
Carvana shares tank after short-seller Hindenburg accuses firm of ‘grift for the ages’
Carvana shares tumbled on Thursday after short seller Hindenburg Research accused the used-car retailer of using shady tactics to create a “mirage” of a turnaround in a bombshell report.
·New York, United States
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Total News Sources35
Leaning Left4Leaning Right3Center7Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 29%
C 50%
R 21%
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