I’M CALLING BS (Carvana)
Posted: May 03, 2024
- Author has experience in automotive sales and management - Carvana and Carmax have been outbidding dealers at auction - Carvana claims very high average profit per car, author skeptical - Dealerships typically aim for average profit of $3000 per car - Author believes Carvana's high profits may indicate fraud or manipulation - Considering short position in Carvana stock - Link to Carvana shareholder letter provided for reference
Summarized top reddit comments: - Carvana is suspected of cooking the books - Concerns about the legitimacy of Carvana's reported profits - Questions about the company's accounting practices - Discussion of discrepancies in Carvana's financial reports - Mention of potential fraud accusations - Uncertainty about timing the exposure of fraudulent activities - Split opinions on buying or betting against Carvana stock - Speculation on errors in financial reporting and math - Examples provided of questionable accounting practices by Carvana
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