$CVNA: Gain-on-sale accounting of Auto Finance Receivables (AFRs) boosts Carvana’s income statement | Dec 2019

1/Re: $CVNA Gain-on-sale Accounting of Auto Finance Receivables (“AFRs”) As @paul_m_Huettner previously pointed out, fully half of $CVNA‘s total gross profit for the three and nine months ended 9/30 came from the ‘Other Sales & revenue’ line item:https://t.co/bKDymcYVBu β€” Investor Gator 🐊 (@GatorInvestor) November 30, 2019

$CVNA: Review of Carvana’s shady 3Q19 earnings | Nov 2019

🚨🚨🚨WHAT IN THE WORLD??? Other Sales & Revenue have NO COSTS associated with them and have 100% gross margin?!? A full 12% of Q3 and 11% of YTD gross margin comes from sales to related parties. Without Other Sales & Revenue gross margin drops from 12.56% to 6.46%!!! $CVNA pic.twitter.com/bklnTjIDCR β€” Paul Huettner, CFA (@Paul_M_Huettner) […]

$CVNA: Carvana is an “opaque subprime origination machine attached to a management compensation scheme” | Oct 2019

1/ Pull up a chair. $CVNA is an opaque subprime origination machine attached to a management compensation scheme. When investors let the fox guard the hen house, they shouldn’t be surprised at the result. It escapes me completely how institutions will put https://t.co/8V1101qybO β€” Investor Gator 🐊 (@GatorInvestor) October 29, 2019

$CVNA: Carvana’s opaque finance operations and heavy insider selling | Aug 2019

1/$CVNA: $14.5mm in officer and director sales over the last seven days [per 10b5-1 trading plans adopted in March].$CVNA will have to borrow heavily against inventory in 3Q in order to stay in business- nothing wrong with ABL financing but should be paid from profits, not https://t.co/8saZ8X5jZO pic.twitter.com/i9CIgQ5jeB β€” Investor Gator 🐊 (@GatorInvestor) August 16, […]