Investment Thesis
Carvana (CVNA) is an expensive stock in a very competitive market. This has been known for some time, and investors have been willing to give the stock a wide pass.
Meanwhile, Vroom's recent IPO highlights just how expensive Carnava is why this stock should be avoided as it is unjustifiably expensive.
Further, going through Carvana's balance sheet, I question how long before Carvana needs to access capital markets once again?
Having said, I note that the strong momentum in the stock, from shorts being squeezed, is likely to keep the stock