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Carvana stock (NYSE:CVNA) suffered another sharp drop Wednesday after the company met with lawyers and creditors to explore options for managing the company’s debt load
Carvana (NYSE: CVNA) shares fell over 40% during trading Wednesday after the car retailer’s biggest creditors, Apollo Global Management and PIMCO, finalized a deal tying them together to execute negotiations with the company.
Carvana bankruptcy concerns grew further on a recent Bloomberg report. Wedbush analyst says Carvana stock could eventually be worthless.
Carvana's share price has plummeted from a high of $376 in August 2021 to just below $4
Doubts over the solvency of the "Amazon of used cars' have grown enormously.