Talking stocks, trading, and investing in general

[PhilKenSebben]

Carvana stock collapses amid bankruptcy fears after creditor pact and another $1 price target

Carvana shares spiraled Wednesday after the online car retailer’s biggest creditors reportedly signed an agreement to cooperate in potential restructuring negotiations as the company faces growing bankruptcy risk.

www.yahoo.com

what say you @Omega Male et al ?

Seems like a good time to buy in......

 

[HRoi]

Seems like a good time to buy in......

Imma guess that on top of all the problems cited in the article, they probably bought their inventory at the top of the market and are now super vulnerable to the softening of retail demand

 

[double00]

Seems like a good time to buy in......

i mean i feel like somebody will occupy that space but i wish i knew online auto retail a bit better . i know there's 'bay motors and a few others ... one of my in laws is c-suite at an auto rental place and they also got hosed by inventory / price whipsaw but they are surviving i think

Imma guess that on top of all the problems cited in the article, they probably bought their inventory at the top of the market and are now super vulnerable to the softening of retail demand

is price going to normalize or ?

***

i'll edit : https://www.nasdaq.com/articles/is-carvana-stock-a-buy-now



and then the question of interest rates :

Unfortunately, Carvana's business model wasn't built to withstand the sudden spike in inflation and interest rates that occurred over the past year. Inflation curbed sales of big-ticket items like cars, while rising interest rates made it even tougher to finance those purchases. Elevated inventories of vehicles this year also caused used car prices to decline.

Simply put, Carvana thrives when interest rates are low, the economy is healthy, and inventory levels are lean. But all three of those pillars collapsed this year, and that pain could persist for the foreseeable future.

and : carvana's creditors are blackrock pimco and apollo and it's like a 3-month cooperation pact . i guess they're boned ?

 

[Omega Male]

 

[Piobaire]

^^
#FJB

 

[jbarwick]

All the talk of reclaiming the 200-day died quickly. Also on charting, they should use a horizontal support line as well otherwise it looks like everything is going to zero...or I mean it could go negative like Oil did.

 

[ter1413]

FTX Founder Sam Bankman-Fried Arrested in the Bahamas

U.S. authorities filed criminal charges against Bankman-Fried, and the Bahamas intends to extradite him once U.S. officials request it.

www.coindesk.com

 

[ter1413]

https://d1e00ek4ebabms.cloudfront.net/production/uploaded-files/indictment-c5d38d97-6e6a-49e1-9b41-5670f24bce6d.pdf

 

[Piobaire]

MAGA has already decided his arrest is to prevent him from testifying in front of Congress and exposing all the Dems he funded with crypto.

 

[ter1413]

Exclusive Transcript: The Full Testimony Bankman-Fried Planned To Give To Congress

Before he was arrested, Forbes obtained a draft of Bankman-Fried's full testimony and is publishing it here, verbatim

www.forbes.com

^
SBF's opening statement that he was supposed to give.

 

[brokencycle]

The picture of a genius.

 

[ter1413]

Sam Bankman-Fried is DENIED bail in the Bahamas

Bankman-Fried appeared before a magistrate in Nassau on Tuesday. He was arrested last night at the request of the American authorities and is fighting extradition back to the US.

www.dailymail.co.uk

"He is begging for mercy - asking for $250,000 cash bond - and claiming he can't be thrown in jail because he is depressed and follows a vegan diet."

 

[cross22]

He claims FTX's us operations is fully funded and all US customers/customers of FTX US can be made whole immediately. If true that might limit what the Feds can charge him with.

 

[HRoi]

Haha like that fatass is vegan

 

[ter1413]

He claims FTX's us operations is fully funded and all US customers/customers of FTX US can be made whole immediately. If true that might limit what the Feds can charge him with.

He claims loads of things. I was watching the new CEO testify earlier today. He called BS on many of his "claims".