Carvana CVNA has left bears by the wayside for years. Why short them now?
CVNA bearish moving averages. CVNA has run up from $280 to $390 and is now flashing heavily bearish moving averages.
Rising fuel and inflation is really bad for CVNA. Carvana is hosting a hefty 6% profit margin. That leaves little room if consumers take any sort of beating.
Stock split. This is a largely symbolic move. And once the hype from this great big nothing burger wears off all the good news will be baked in.
Positions and Disclosure. I am a retail trader. I am not a financial professional. For the near future I am short CVNA and will be looking to add additional puts if a buying opportunity presents.
BFLO-Retail
https://www.reddit.com/gallery/1t4gjoa
Posted by BFLO-Retail
5 Comments
Finally someone else who uses E*Trade.
This seems to be one of those stocks that just destroys bears. Good luck!
Another soul harvested!
Real life DD: Carvana gave me a silly number for a pickup truck I sold them two weeks ago. As a car guy and someone very in tune with vehicle markets and pricing, they assuredly lost money on my truck when they sent it to auction.
Puts it is.
you forgot to mention all their subprime lending too.
consumers are tapped out, CVNA is cooked