Apple, Real Estate, Russia, and Carvana
Bloomberg Intelligence
00:00
The Equity Story of Carvana
Carvana has $8 billion worth of debt. They're not supposed to generate positive e-bita until 2025. This is one of those cases where it's the balance sheet that's driving the equity story as opposed to the opposite. The stock on August 13, 2021, $360. Stock's trading below 9. Exactly. That's the guy. I can see buying debt when you've got all this equity underneath me even though I wouldn't do it because I only lend on cash flows. But now what happens to these debt holders? What are they trying to do here? From credit to star, that's the way it goes, boss.
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