Top 5 Losers Today

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In this article, we discuss the top 5 losers today. If you want to see some more stocks losing value on Wednesday, go directly to Top 10 Losers Today.

5. Carvana Co. (NYSE:CVNA)

Number of Hedge Fund Holders: 43

Shares of Carvana Co. (NYSE:CVNA) moved down today after Bank of America lowered its ratings for the online used car retailer from “Buy” to “Neutral,” citing concerns over its cash position.

BofA analyst Nat Schindler said Carvana Co. (NYSE:CVNA) is quickly burning cash. Schindler added that it is also facing difficulties in generating a profit. The analyst believes the company would soon run out of cash without a capital infusion. He also trimmed his price target for Carvana stock from $43 per share to $10 per share.

Follow Carvana Co. (NYSE:CVNA)

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