Major shareholders and founders Ernie Garcia and Ernie Garcia junior are popping champagne. University of Arizona Wildcats. Some NIL money here.
If the name Ernie Garcia (Sr.) sounds familiar it may be due to his role in the Savings and Loan crisis on the 90's that led to the collapse of the S & L industry. Mr Garcia stole $30 million of bank money. He was sentenced to 3 years probation. No jail time. Hell I could do that sentence easily and keep the $30 mill. How he got to be a founder of publicly traded company after pleading guilty to bank fraud must be an interesting and sordid tale.
He's a fraud and so is Carvana. Son made a short of money shorting them as they were collapsing a couple years ago. Think he eventually got out when they were near 0
How the hell is carvana even solvent? Thought the used market was in the toilet? Carmax is going the opposite direction. Did Amazon ever officially join the used market or that all fluff?
Just wait until it gets so bad people start paying for used groceries. Yes, that is what I mean.