Carvana, 'The Amazon of Car Dealers', Fights its Biggest Battle


The manner Ernie Garcia III sees it, the issue isn’t existential.

Garcia, founder and CEO of Carvana  (CVNA) – Get Carvana Co. Class A Report, the web used automotive retailer, gave a run down of his firm’s monetary place throughout a June 7 presentation on the William Blair Annual Stock Growth Conference.

Carvana, which has been dubbed “the Amazon of car dealers,” have’t seen a lot in the best way of development these days, as its share worth have dropped dramatically. 

An Existential Crisis?

On Aug. 10, 2021, the Tempe, Arizona’s firm’s inventory hit a excessive of $370.10. On June 9–less than a yr later–shares closed at $23.13.