Carvana slumps after Gotham City Research discloses short position

Carvana Co

28/01/2026 17:03

Removes incorrect YTD reference and fixes percentage in bullet 6

** Shares of online used-car retailer Carvana CVNA.N fall 12% to $413

** Gotham City Research says it holds short positions in the company

** Carvana was spun off from DriveTime in 2012

** Gotham says CVNA's 2023-2024 earnings are overstated by more than $1 billion

** CVNA and DriveTime creditors may rethink funding once they grasp that the ecosystem is more leveraged than publicly disclosed — Gotham

** In 2025 CVNA was up ~107%

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))