Carvana Co. (NYSE:CVNA) fell Thursday as rising short interest and its recent earnings report pressured the online used-car retailer.
Broader markets also weakened as Middle East tensions pushed Brent crude toward $90 on fears disruptions in the Strait of Hormuz could hit Persian Gulf supply. The S&P 500 dropped 1.16%, while the Nasdaq Composite fell 1.07%.
Short Interest Climbs, Adding Stock-Specific Pressure
Short sellers are increasingly skeptical of Carvana. Short interest rose from 14.84 million to 15.17 million shares in the latest reporting period, according to Benzinga.
That puts 12.1% of publicly available shares short. At an average daily volume of 3.82 million shares, shorts would need nearly four days to exit without spiking the stock.
Q4 Earnings Beat Expectations But Cost Concerns Linger
Carvana reported fourth-quarter …
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