[ad_1]
Carvana’s “financing is done but costly and kicks the liquidity can down the road,” Bloomberg Intelligence’s credit analyst Joel Levington said. “What is left is a vulnerable balance sheet, a consumer that is cooling, and clearly a more difficult road back to the capital markets.”
Carvana shares have lost almost all of their pandemic-fueled gains
The outlook for auto e-commerce industry will remain under pressure, with William Blair analyst Sharon Zackfia expecting other companies such as Vroom, Shift and CarLotz to largely disappoint on the number of units sold during the first quarter.
Carvana shares ended down 2.1 percent at $64.37 in New York on Thursday, the lowest close since close April 2020.
Source link