Carvana Co. (CVNA) call put ratio 4 calls to 1 put

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Carvana (CVNA) PT Lowered to $5 at JPMorgan

December 7, 2022 11:24 AM EST

JPMorgan analyst Rajat Gupta lowered the price target on Carvana (NYSE: CVNA) to $5.00 (from $10.00) while maintaining a Neutral rating.

The analyst comments "Yesterday, Bloomberg reported that some of CVNAs largest creditors, that combined own ~70% (or ~$4 bn) of outstanding unsecured debt have signed a pact that binds them to act together in negotiations with the company for at least three months. In our view, the pact suggests that CVNA may have initiated debt restructuring negotiations with bond holders as there seems to be little end in sight for ongoing used car market... More

Carvana (CVNA) plunges as analyst downgrades on bankruptcy risk

December 7, 2022 9:08 AM EST

Shares of Carvana Co. (NYSE: CVNA) fell 30% in pre-open trading Wednesday after Wedbush analyst Seth Basham downgraded the stock to Underperform, citing rising bankruptcy risk.

The downgrade and comments follow a Bloomberg report overnight that a group of 10 creditors, including Apollo and... More