Carvana (CVNA) plunges as analyst downgrades on bankruptcy risk

Carvana (CVNA) PT Lowered to $5 at JPMorgan

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 Co. (CVNA) Halted on Circuit Breaker, Off Worst Level

Carvana Co. (NYSE: CVNA) Halted on Circuit Breaker, Off Worst Level

Carvana Co. (CVNA) Halted on Volatility

Carvana Co. (NYSE: CVNA) Halted on Volatility

Carvana Co. (CVNA) Extends Decline, Down 29%

Carvana Co. (NYSE: CVNA) Extends Decline, Down 29%

Carvana Co. (CVNA) Sinks 25% on Latest Downgrade, $1 PT

Carvana Co. (NYSE: CVNA) plunges 25% in pre-open trading after Wedbush downgrades to Underperform with a 'Street Low' $1 price target.

Apollo, Pimco in Pact to Prevent Creditor Brawl Over Carvana Co. (CVNA) - Bloomberg (earlier)

Some of Carvana's (NYSE: CVNA) largest creditors including Apollo Global Management (NYSE: APO) and Pimco signed a pact to act together in negotiations with the company, a move meant to prevent nasty creditor fights that have complicated other debt... More

Wedbush Downgrades Carvana (CVNA) to Underperform

Wedbush analyst Seth Basham downgraded Carvana (NYSE: CVNA) from Neutral to Underperform with a price target of $1.00 (from $9.00).

For an analyst ratings summary and ratings history on Carvana click here. For more ratings news on Carvana click here.

Shares of Carvana closed at $6.71 yesterday.

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

Carvana Co. (NYSE: CVNA) 30-day option implied volatility at 165; compared to its 52-week range of 44 to 120 into Apollo, Pimco sign deal to act together in Carvana debt talks, Bloomberg says. Call put ratio 4 calls to 1 put.