Anyone playing the casino today?
Going to $10… Lots of volume, low float. Gonna be a bumpy ride but I think we get there next week.
I would, but due to my job I have to hold any stock for 30 days and there’s no way I’m going to do that lol
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You are either buying a nice boat or an inflatable boat
I’m gonna go against all my daytrading principles and hold this one over the weekend and hope for positive news. I’m playing with house money at this point anyway.
I wouldn’t suggest anyone dabbling in this with money they can’t afford to lose. It could easily open Monday at $3 also
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I’m too old to YOLO. I gamble very conservatively. It also helps when you start a wall street bet ahead instead of in a hole.
Congratulation to those that are short…
Isn’t this the company that revolutionized the automobile business with car vending machines… 
….
https://www.instagram.com/reel/ClGQXEAvbnS/?igshid=YmMyMTA2M2Y=
Carvana laid off the entire second shift of their refurb facility with the latest cut - the aftermath.
What am I seeing? That pic is very blurry
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They are almost finished building one of their vending machines near me & I’m guessing it’ll never actually get filled with the impending bankruptcy.
lol, the vending machines are such a joke… truly a waste of shareholder and customer money. They could have built one for the cool factor and kept it old school for the rest of them.
Carvana’s failure reminds me of much of the .com era failed businesses. Logistics and capital costs and bloated expenses that eventually catch up to them. Like the Webvan of selling cars.
I’d think a national dealer group like autonation could scoop up what survives of the company and really leverage all the infrastructure they already have to go after carmax as the go to used car brand.
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Reminds me of the dot com bc it was a scam from the start. Valuations made no sense same with 2000. We all knew it from their offers….they didn’t reinvent the wheel. People have been flipping cars forever, they just benefitted from Covid and an insanely bullish economy.
As for the vending machine. Awesome idea for marketing and brand presence. You just need one in 3-5 major cities though.
No one will touch their assets bc it comes with their debt. They also have some lawsuits pending with their titling issues. Best they can do is get debt restructured but at these rates and consumer spending down I can’t see it happening.
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You’re totally right… I mean how many startups are just snakeoil for the leeches to profit from while shareholders pay the price.
And I’m assuming bankruptcy, settle with debt holders and wipe out stockholders before anyone touches the assets… but after that, there’s a market for the business with a smarter logistics strategy.
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Just google Ernest C Garcia II, he’s been involved in failing businesses since 1990.
He plead guilty to a criminal bank fraud charge in 1990 in connection with the Lincoln Savings fiasco.
I read that he cashed out over 3 billion in Carvana stock sales before the big a slide occurred.
He had 16billion. So when you look at it from HIS SIDE, he lost 11 billion in the slide.
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More layoffs at Carvana.
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I saw an article today of just empty carvana vending machines, but can’t find it right now. Are they still washing their overpriced inventory through Manheim to pay the power bill?
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They and Drive Time are missing a huge opportunity to just highlight the 2 year old EVs they have that are tax credit eligible. DT can finance those babies for 8%+ and people will still think they got a deal.
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