Carvana's $79 Billion Used Car Disaster...What Happened?

Over the past decade, Carvana has become the king of used online car sales. Considering that the company was launched by veterans of the used car industry, the creators of Drivetime, this is not too surprising. However, what is surprising is the amount of volatility and suspicious activity associated with the company. From allegations of stolen cars and invalid licenses to mountains of debt and huge losses, Carvana is the epitome of a controversial company. In fact, due to all the controversy, the stock just recently fell 98% throughout 2022 and 2023. But, since then, the company has managed to recover all of these losses and come back even stronger. This video tells the crazy story of the rise, fall, and rise again of Carvana, and explores the allegations and controversy surrounding the company.

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Timstamps:
0:00 - A Carvana Crisis
0:43 - A Fortune 500…Car Dealership?
5:17 - A Deserved Fall
8:55 - A Strange Comeback

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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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