Carvana's Stock Rollercoaster: From Sky-High Gains to Crushing Losses.
Shares of online car retailer Carvana soared on Thursday after it announced it expected to post $50m worth of adjusted EBITDA in the current quarter, but the gains were short-lived as concerns over the company's debt and declining revenue overshadowed the news. Carvana's boosted profitability was coming on the back of falling revenues, and the company has long-term debt of more than $6.5bn at the end of Q1 2023. Despite the recent gains, Carvana's long-term trajectory remains uncertain.
