Carvana Is Cooking Its Books, Hindenburg Research Claims
(gizmodo.com)
Carvana may be a house of cards. That’s according to investment research and activist short-selling firm Hindenburg Research (never a good sign to be the subject of ire from a company named after a famous disaster), which published a report on Thursday that accuses the online used car seller of “accounting manipulation” stemming from unstable loans that it is using to temporarily prop up its prospects while its father-son ownership team cashes out.
Carvana may be a house of cards. That’s according to investment research and activist short-selling firm Hindenburg Research (never a good sign to be the subject of ire from a company named after a famous disaster), which published a report on Thursday that accuses the online used car seller of “accounting manipulation” stemming from unstable loans that it is using to temporarily prop up its prospects while its father-son ownership team cashes out.