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Carvana Co. (CVNA): A Bear Case Theory

We came across a bearish thesis on Carvana Co. on Nemonomics’s Substack by Nick Nemeth. In this article, we will summarize the bulls’ thesis on CVNA. Carvana Co.'s share was trading at $390.17 as of July 31st. CVNA’s trailing and forward P/E were 97.06 and 77.52, respectively according to Yahoo Finance.

[caption id="attachment_1199079" align="aligncenter" width="768"] A customer buying a used car with the help of a finance specialist.[/caption]

Carvana (CVNA) has staged one of the market’s most dramatic comebacks, rebounding from near-bankruptcy in 2022 to a $45+ billion...