Carvana (CVNA) plunges as analyst downgrades on bankruptcy risk
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Carvana (CVNA) PT Lowered to $5 at JPMorgan
December 7, 2022 11:24 AM ESTJPMorgan 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
December 7, 2022 10:59 AM ESTCarvana Co. (NYSE: CVNA) Halted on Circuit Breaker, Off Worst Level
Carvana Co. (CVNA) Halted on Volatility
December 7, 2022 9:35 AM ESTCarvana Co. (NYSE: CVNA) Halted on Volatility
Carvana Co. (CVNA) Extends Decline, Down 29%
December 7, 2022 8:53 AM ESTCarvana Co. (NYSE: CVNA) Extends Decline, Down 29%
Earlier Apollo, Pimco in Pact to Prevent Creditor Brawl Over Carvana Co.Earlier Wedbush Downgrades Carvana (CVNA) to Underperform... MoreCarvana Co. (CVNA) Sinks 25% on Latest Downgrade, $1 PT
December 7, 2022 8:36 AM ESTCarvana Co. (NYSE: CVNA) plunges 25% in pre-open trading after Wedbush downgrades to Underperform with a 'Street Low' $1 price target.
... MoreApollo, Pimco in Pact to Prevent Creditor Brawl Over Carvana Co. (CVNA) - Bloomberg (earlier)
December 7, 2022 7:12 AM ESTSome 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
December 7, 2022 6:47 AM ESTWedbush 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.
... MoreCarvana Co. (CVNA) call put ratio 4 calls to 1 put
December 7, 2022 5:10 AM ESTCarvana 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.
... More
