Shasho
Sep 29, 1:16 PM
$CVNA What did we learn from yesterday?
15.5 MILLION shares traded — almost 4× the daily average of last week — while CVNA dropped nearly 7%.
That doesn’t look like short covering to me. It looks like heavy dumping.
But the real question is: WHO ARE THE SELLERS?
Perhaps the floodgates have started to crack open.
Some may try to point to
$CMAX as an explanation. I would argue that what CarMax reports is largely irrelevant to the fundamental concerns I have about Carvana’s business practices and financial reporting. In my opinion, the numbers surrounding FRAUDVANA have been made to look far better than the underlying business reality warrants. That is my view—
And here’s what I think could happen next:
They may try to pump the stock back up today and over the next few days, cooling off the impact of yesterday’s selloff before another wave of selling hits.
Yesterday was only the beginning, perhaps.
Welcome to CASINO ROYALE!!! 🎰
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