Carvana stock slides again as higher reconditioning costs keep CVNA under pressure
Carvana shares fell 1.6% to $327.55 Friday, extending losses after fourth-quarter results showed per-vehicle profit dropped to $6,427 as inspection and depreciation costs rose. Revenue climbed to $5.6 billion with 163,522 retail units sold. Expenses reached $2.16 billion for the quarter. Brokerages cut price targets and short interest stands at about 10.7% of the free float.