Debt And InvestmentCarvana's significant investments ahead of anticipated growth led to significant losses and a sharp rise in the company’s debt load.
Loan PerformanceThe short report seeks to question CVNA's ability to grow units in the face of a lower appetite for auto loans due to partner concerns and worsening loan performance.
Macroeconomic ConditionsConcerns remain about macroeconomic conditions and potential consumer stress, which are seen as broader issues affecting the industry, not just Carvana.