CVNA - Carvana Plans Turnaround With Strategic Restructuring Stock Rebound And Debt Overhaul: Report | Benzinga
Carvana Co. (NYSE:CVNA) is reportedly gearing up for a restructuring.
Over the past 18 months, Carvana has undertaken a significant restructuring, focusing on operations and debt reduction amidst bankruptcy concerns, reported CNBC.
These strategic moves are crucial for the company and its major shareholders, particularly CEO Ernie Garcia III and his father, Ernie Garcia II, who collectively control 88% of Carvana through special voting shares.
Also Read: Benzinga Bulls And Bears: Meta, Tesla, AMD And Crypto Analyst Predicts That ‘DOGE Is Gonna Pop’
The ongoing efforts have proven successful, leading to a notable improvement in Carvana’s stock performance.
While the stock has rebounded from less than $5 per share to over $55 at the start of 2024, it remains ...