https://www.bloomberg.com/news/arti...-from-father-son-duo-s-wealth?srnd=markets-vp
Ouch. Reminds me of the distinction about where money flows.
Sometimes it sloshes around and there is opportunity short-med term.
Sometimes it migrates and there is long term opportunity.
For those who can't access: They are a used car company.
"The company’s stock, which once traded as high as $376.83 intraday, fell as much as 42% to $8.37 in New York trading after poor quarterly results led Morgan Stanley analyst Adam Jonas to float the idea that it could sink to as low as $1. Shares are now down 96% in 2022. "
"The deteriorating second-hand car market and volatile interest-rate environment “add material risk” to the company's outlook, Morgan Stanley’s Jonas said in a note. Carvana’s bonds also slumped to a record low, with some securities maturing in 2028 falling below 40 cents on the dollar."
Ouch. Reminds me of the distinction about where money flows.
Sometimes it sloshes around and there is opportunity short-med term.
Sometimes it migrates and there is long term opportunity.
For those who can't access: They are a used car company.
"The company’s stock, which once traded as high as $376.83 intraday, fell as much as 42% to $8.37 in New York trading after poor quarterly results led Morgan Stanley analyst Adam Jonas to float the idea that it could sink to as low as $1. Shares are now down 96% in 2022. "
"The deteriorating second-hand car market and volatile interest-rate environment “add material risk” to the company's outlook, Morgan Stanley’s Jonas said in a note. Carvana’s bonds also slumped to a record low, with some securities maturing in 2028 falling below 40 cents on the dollar."
"....but where the rubber hits the road.... this one is going back to its IPO price or damn close in time. Lots of fat-cat VC money here... but only 20% institutional ownership.
