• Why Carvana stock dropped 97% in the past year as the auto resale success story became a used-car clunker

    21 days ago - By Business Insider

    A Carvana vehicle showroom. MARK RALSTON/AFP via Getty Images
    Carvana's share price has taken a dive in just the last few days.
    The online used-car retailer has lost around half its value since reporting disappointing earnings on Thursday.
    Slowing demand for used cars and high interest rates are making things difficult for Carvana.
    Not too long ago, Carvana was hailed as one of the great success stories of the pandemic era. But its fortunes have soured in 2022. Shares in the online used-car retailer have plummeted by around 50% since it reported lackluster earnings on Thursday. And over...
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