Carvana ($CVNA) has been under scrutiny due to insider sales and allegations of fraudulent activities. The company, led by a chairman convicted of felony bank fraud, has been accused of exploiting sub-prime car buyers with high-interest loans and engaging in boom-and-bust business practices. Despite these controversies, Carvana's stock has been performing well, hitting 52-week highs and setting up for further gains. In Q2 2024, Carvana sold approximately 3 million shares of its Class A Common Stock at an average price of $114.85 per share, generating gross proceeds of around $350 million. Additionally, 3% of the 30.2k loans issued in Q1 2024 are delinquent, and insider Garcia has been dumping 120k shares daily.
During 2Q24 through June 6, 2024, #Carvana sold ~ 3 million shares of its Class A Common Stock under its “at-the-market offering” program at an average price of $114.85 / share, for gross proceeds of approximately $350 million. Insider sales also continued at torrid pace. $CVNA
$PCVX daily ⬆️ Clean bullish C&H follow-up from our 76.80 long setup. https://t.co/Jpoqk4Bngr
$CVNA setting up for big move to $140+ towards $150 nice 2 day reset, #Friday #lotto #day
If you read this, you will understand the guy pulling the strings & majority owner with super-voting power is not concerned about shareholders and a crash in $CVNA stock will make him richer … wash & repeat. He’s selling shares every day now. https://t.co/OX8YRrGQES
$CVNA https://t.co/GkLLBDZPkK
$CVNA Garcia dumping 120k shares every few days. $CVNAQ https://t.co/vAX7z0pbnD
$CVNA #update Thing of beauty Good Case study review complete chart history here See tweets below So many Setups since last year https://t.co/Tf5DYsdneC https://t.co/swdRMrDV6w
$CVNA calls on tape, the squeeze continues https://t.co/TGTCUBGRFt
$CVNA hitting the 52 week high list. None here but know traders who have this name in their holdings
When u r dealing with a felon convicted of bank fraud, like the scumbag running $CVNA, you have to understand the full scope of the shell & related companies critical to the current boom/bust accounting fraud & how he wins when #Carvana stock plunges again https://t.co/j5X8SEfRFX https://t.co/lobgnbtUQP
When u r dealing with a felon convicted of bank fraud, like the scumbag running $CVNA, you have to understand the full scope of the shell & related companies critical to the current boom/bust accounting fraud & how he wins when #Carvana stop plunges again https://t.co/69pbwjfLuU https://t.co/lobgnbtn1h
#Carvana $CVNA felon found > fish to scam: car buyers at 7yrs, 20%+ interest, shareholders (thru his super-voting shares, accounting game that boom/bust biz, dilution, PIK debt, insider sales while cooking books (boom), execs issued shares (bust) - repeat https://t.co/GYx7GQPluo https://t.co/izAuw11sMM https://t.co/N8wvEf57u6
$CVNA is a sub-prime lender ripping off poor. Chairman convicted of felony crimes as bank exec, found a way to get into sub-prime banking through front-end car sales - they lose $ on cars & make it all on loan shark financing & repos. It is boom & bust biz, insider sell in booms. https://t.co/lDvTUxNWBl https://t.co/PH6uwq4L6m
$CVNA decides to make new ATHs (52 weeks) and $134 coming next above $130 https://t.co/B4zKNUOpaF
$CVNA beautiful inside day candle formed - likely stays all day digesting last 2 days upside move Reset overbought conditions in shorter timeframe and get going again to take $130+
Carvana retail volumes looking nice last week. $CVNA Real nice!
$CVNA 2024-1 Trust: Issued just in Q1!!! Already 909 out of 30.2k loans are Delinquent!!! What? ~3% of Junkana buyers missing payment 🤡 -> SERIOUSLY who buys a Car and misses their first payment??? House of Cards⚠️⚠️⚠️ https://t.co/yzwV5Tbg3D
$CVNA insider sales continue daily at torrid pace, especially by convicted felon responsible for the scam https://t.co/gFEMY1S6v0 https://t.co/ZYfCcAflWs