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Carvana’s tale of debt and losses looks a lot like old Hertz

Carvana sales tumbled 23%, and the retailer burned through $1.8 billion in cash in Q4

Bloomberg News

Shares of Carvana Co. more than doubled in the month leading up to Thursday’s awful fourth-quarter earnings report. By the time the numbers hit shortly after the US market close, it was clear that optimism had been gravely misplaced. The online used-car dealer had lost almost $7,400 on every vehicle it sold in the quarter. Sales tumbled […]

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