Carvana shares spike 40% as used car retailer posts record first quarter

- Carvana's first-quarter sales beat Wall Street's expectations - Carvana reported record net income, gross profit per unit, adjusted earnings, and profit margin - The company focused on profitability rather than growth over the past two years - Carvana's stock surged over 30% after reporting record results - Carvana's stock had previously lost much of its value in 2022 but has since recovered - The company is now focused on profitable growth and becoming the largest and most profitable auto retailer

Summarized top reddit comments: - Speculation on shorting Carvana stock due to recent spike - Plans to reopen short position or purchase puts - Mixed reactions including laughter and debate on expiration dates - Frustration with lack of profit on put options from February - Discussion on expiry dates and nervousness about June 21 expiration