Ziegler sees no point in debating Wall Street analysts and investors who continue to pour money into Carvana despite the company’s unsustainable business model and the federal crimes committed by two of its biggest players.
Carvana’s first-quarter results include triple-digit gains in net revenue and consumer-sourced inventory, but losses continue to mount, growing 57% to $82.6 million year-over-year.
Carvana made a splash in the latest used-car retailer rankings, but analysts say the dealer disruptor is losing too much money and will never turn a profit.
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