Carvana stock steadies before U.S. open after Gotham short report knocks CVNA down 14%
Carvana shares fell 14.2% Wednesday after Gotham City Research accused the company of overstating 2023-2024 earnings by over $1 billion and hiding related-party transactions. Carvana denied the claims and said it will report results Feb. 18. Trading volume surged to nearly 20 million shares. Peers like CarMax and OPENLANE saw little impact.