Shares in Carvana Co fell sharply after short seller Gotham City Research published a report alleging the online used-car retailer overstated earnings through undisclosed benefits linked to businesses controlled by the family of chief executive Ernie Garcia III, according to a report by Bloomberg.
The stock dropped 14% in New York trading, marking its steepest decline in more than nine months, after the report questioned the sustainability of Carvana’s recent turnaround and raised concerns aroun...
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