On January 2, 2025, Carvana became the subject of a report published by Hindenburg Research. The report, titled: "Carvana: A Father-Son Accounting Grift For The Ages," alleges that the Company's turnaround is a "mirage." The report claims, "Our research uncovered $800 million in loan sales to a suspected undisclosed related party, along with details on how accounting manipulation and lax underwriting have fueled temporary reported income growth – all while insiders cash out billions in stock."
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
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