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Carvana Co. (CVNA)

NYSE - NYSE Delayed Price. Currency in USD
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263.12+1.77 (+0.68%)
At close: 04:00PM EST
265.00 +1.88 (+0.71%)
After hours: 07:24PM EST
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  • s
    stuckinsideamobile
    Can someone please explain the SEC form 8- K recently filed? I have no idea what that filing is about. Is the Ally Financial credit line now 2.5 billion? And what is the references to floor plan inventory? And is Ally requiring a 90 day actions when no title is produced by carvana?
  • R
    R
    I love the article Estimating the Intrinsic Value of Carvana. Every year they forecast an increase of roughly 500 million every year. Where did they get this number? Did Caravana recently provide sales and revenue numbers by vending machine. Caravana currently covers 80% of the US population. They have all but finished building out their infrastructure. Will an additional 20% increase in vending machines explain their forecast? Will these vending machines start selling more cars? And where will they get these cars?
  • c
    cush20cush
    I have been trying to buy a truck since Friday and have been transferred
    And on hold over an hr trying to confirm .
    Today , I have literally been in their on line chat 2 hrs and getting nowhere . Either this company is overwhelmed with sales or has the worst customer in service in the world. .
  • n
    nick name
    CVNA stock plunge will soon reverse ...
    CVNA just bought the Empire Ste Building in NY City and plans to convert the the first 82 floors to a car vending machine. The rest of the building will be sued for living space and office space for its top level executives and its Global Headquarters.
    CVNA management indicated that HMM we wanted HMMM a global trophy address to show the world that our success HMMM is limitless. We also HMMM wanted to be hmmm closer to Wall Street so we can work with them as we roll out our global strategy and go after the global used market valued at $15 Trillion. From our new location we will be shipping cars all over the world. CVNA will house 75% of its inventory at the NYC location and consolidate 6 IRC, thus saving billions of dollars in the process. With our global marketing and distribution plan implemented, consolidated vending and IRC operations, we expect to be profitable by Q2 2022. Wall Street enthusiastically supports the newest strategy. LOL....
  • s
    stuckinsideamobile
    I do not agree that it was positive. Little Ernie stays focused on gowth, but he kept talking about the constraints and limitations of expanding. He said units are more important than real profits. What the business plan is seems to be to delay the reality that they will never be profitable, as long as they can. He is a talker. As an investor, I would not be impressed, as a custmer, unaware of all the title problems, the bogus warranty coverage from a daddy company and the poor customer service....I could be fooled to look on the techno wizzardy web site for a carvan lemon.
  • W
    WILLIAM
    My guess for tomorrow is that they will start to prepare market for slowing sales. Suspect the blame will be its going to be hard to find autos to sell. Also new covid variant will be mentioned.
  • n
    nick name
    CVNA's executive team buzzword is "constraints" various types. CVNA executives need to review one of the most principles of management: the role of management is to increase the yield of a resource.
    CVNA executive management needs to figure out quickly how to eliminate constraints in their operations and start operating more efficiently, effectively, productively and foremost profitable. Of course, no significant changes will occur unless the investors punish the stock's value of the company. Quick 30-40% drop followed by another 10% slow downward spiral should be a loud wake up call.
  • J
    John
    Interesting comment by CEO during the conference saying that when comparing them operationally their benchmark should be other USED CAR COMPANIES. Can't imagine those that drove this to a 50 billion market cap and above did so on the bet they would be marginally better operationally than the next best brick and mortar used car company.
  • s
    stuckinsideamobile
    If you reviewed the financials, listened to the quarterly report conference, and sat in on the Wells Fargo conference presentation this week.....you have a pretty good idea that a company that has had only one profitable quarter (from loan sales and a warranty liability adjustnent) is not heading for profitability..... probably ever. Yet the analyst at Wells Fargo called for a price target 47% above the current price. Is there any doubt that these funds and institutions are crooked?
  • E
    Erik
    157K shares traded at the open above Friday's close. Interesting...
  • s
    stuckinsideamobile
    New article out on how bad carvana is to customers and how they constantly break state laws......The CEO blames the company's explosive growth on all the problems he does nothing about. He is the CEO because dad put him there to control the scam. Here is part of the read.

    Consumer complaints against online auto dealer Carvana have escalated during the pandemic, to the point where some states have slapped the startup with fines and stop-sale orders, citing buyers who have waited months for registration paperwork to be processed and license plates to be delivered.

    Buyers in multiple states have reported delays ranging from weeks to months and instances of multiple temporary tags being issued (reportedly even in states where it is not normally legal to do so) with no sign of any permanent registration paperwork or metal tags, according to the Wall Street Journal.

    CBS Dallas-Fort Worth reported earlier in November that dozens of complaints had been filed against the online dealer in Texas alone.

    "Our explosive growth in buying cars from customers over the last two quarters created significant operational constraints in our system," it said. "Buying more cars from customers leads to more last mile pickups, more customer care interactions, and more complex title processing requirements, which in turn leads to more complex registration processing.
  • s
    stuckinsideamobile
    The car title problem is not new and is growing. It now covers several states and has the attention of State DMV offices and several investigative reporters. The CEO claims these problems are because they are growing so fast. While they can not provide clean titles they seem very effective at putting up vending machines and posting press releases about how fast they are reaching customers. The CEO is clueless as to how to address customer issues and seems focused on these vending machines. Calls to the company about title issues are not addressed, but plenty of info on new 12 story vending machines in a Historical District.
  • r
    ralph
    I finally pulled the plug on my Dealership, it was getting too deep, not quality cars to buy for resale and prices are crazy. The cost of running any dealership is crazy high now, and sales are down in a big way. The profit margins are getting lower and now dealers are faced with buying cars that have higher miles and having to spend lots of cash to get them front line ready. This is going to happen for a good while if Car manufacturers keeps hoarding their chips and only putting out enough cars to be profitable. Right now, Auto manufacturers are actually producing less cars and making more profits, rather than flood the markets and they have to produce more cars to make the same profit.

    The only thing to reset America, Commodity prices, materials and food prices is a massive recession. There is no if ands, and buts about it because everything is controlled by Corporations now and they are squeezing people to death until Consumers give out.
  • W
    WILLIAM
    Just finished the Wells Fargo interview video.Agree with Stuckinsideamobile that no numbers were quoted. Again. In fact the interview reminded me of a politician trying to explain how he was both for and against the same issue. The word constraints came up repeatedly. This in light of the fact that the had to reduce selections in geographic areas suggests that they expanded too quickly and are beginning to feel the discomfort of running out of capital in a cash flow negative environment. As I see it they will either need more capital quickly or sales are going to slow considerably. The only other way around this problem is to become more efficient and quickly improve operating margin.Since their constraints are partly labor related and they plan more IRC build out next year its doubtful they will improve margins. A secondary offering at these prices is probably the best option and will hurt the price less than marked reduction of sales. Either way stock has a long way to drop still and clearly more people than just corporate insiders are bailing out quickly.
  • E
    Erik
    We may see a pop up today because market will interpret today's jobs numbers as positive for the market (i.e., maybe not so hawkish a fed). Thing is, fewer new jobs than expected could be more of a reflection of so few people available to work rather than a lack of desire to hire... so ironically lower jobs numbers could actually be a sign of inflationary pressures... and harder for CVNA to hire all those people they need to overcome the 'constraints'...
  • J
    Jason
    OEM’s are mandating no third party payments for off lease vehicles. They are eating CarVanas lunch. Guys time to jump ship, buy puts here.
  • s
    stuckinsideamobile
    OMG !!!! Have not seen this is a while ! Actual price target downgrade from one of the bag holders. I have not revised this recommendation below. $375.00 price targert on DECEMBER 03. As a side note, I think WF is the absolute worst bank out there. I am down on all the crooked big banks but Wells Fargo is the absolute worst.

    Wells Fargo analyst Zachary F adem maintains Carvana with a Overweight and lowers the price target from $405 to $375.
  • s
    stuckinsideamobile
    I do not understand why carvana is preforming at the following virtual conference. This conference is about tech, media, and telecom. Carvana is more related to fraud, manipulation, and misrepresentation.

    Wells Fargo TMT Summit
    Presentation Date: Wednesday, December 1, 2021, 1:20 p.m.

    A webcast of the presentation will be accessible on the investor relations section of the Carvana website. An archived replay of the webcast will be available following the live presentation.
  • s
    stuckinsideamobile
    “Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.

    The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96.

    Putting it all together, I put operating EBITDA closer to negative ($82) million vs. the $70 million printed by the company. This is a larger loss than 4Q’19 (calculated on a similar operating basis) despite the company selling 43% more retail units y/y
  • A
    A.
    How much will the stock drop when the manipulation stops ??? When there's nothing to hold it up and push it artificially higher, where does reality land ?? Just wondering