The Dramatic Fall of Carvana, “The Amazon of Used Cars”

It's a bright red in the portfolio of Carvana's shareholders, an online used car platform. In a year, their stock had lost most of its value, no doubt giving them the impression that they invested in penny stocks. But still Calvana (CVNA) - Get Free Report At the end of 2021, the wind was blowing in the sails. The company was Amazon's counterpart in the automotive industry. It had become a place for consumers to buy and sell used cars. The company's business model was fully symbiotic with the economy moving online due to restrictions to limit the spread of the pandemic.