Despite reporting an unimpressive Q3 with widening losses and slowing growth, Carvana(CVNA) has risen substantially by over 20% in less than a month. We believe that the current price increase has little to do with fundamentals but rather has more to do with sentiment, but we believe that the market will realize that CVNA's fundamentals aren't great in the long run and should adjust the valuation accordingly.
Source: Seekingalpha
Q3: Strong growth but higher losses
Carvana recently reported its Q3 results. While it did beat revenue estimates, it missed earnings slightly, losing over