Carvana stock
Hi Hoping to get an offer from Carvana. With stock being down how is the morale in the company? Are there any layoffs expected? Do you think this is a good time to join Carvana? #carvana
Keep in mind they’re at like $6B in debt and they don’t make money at scale
For those of you looking at the economics. 1. As soon as analysts from MS said you have to cut SG&A, they did just that, with 12% of staff layoffs. 2. The Adesa acquisition is costing a lot more than was calculated when the acquisition was announced. Mostly due to the bond sale being junk and the bond market being sour on new debt. 3.There is no strategy for continued growth at the same levels based on debt and payments that will need to be paid back on that debt. 4. The company is no longer ahead as a disruptor. Competitors have caught up, and the ability to duplicate the model seems easier than expected. Carvana's platform is no longer a differentiator in the market. The only differentiator is now service level, not sure We'll Drive You Happy brings in the profit needed to pay off current debt.
Yeah but the company has gobs of debt and you need more debt to keep operating Once you’re unable to service debt and can’t get more = bankruptcy or massive stock dilution and then bankruptcy
You’re welcome
Sold my used car in October at high price to carvana and still seating at their garage.
They’re getting fucked lol I would avoid
They scrambled to put a two day tech conference together, and brought us to the Suns arena for a mixer. What I got from those actions is that they are scrambling to boost retention/ moral. It worked. The people around me seem to fall for that shit.
Also my total RSUs over the next 4 years is currently worth ~$6000. Yes that’s right, ~$1500 per year.
Whoa… that. Is. Crazy. Well, the fact you’re still there is also crazy but I’m sure you have reasons. They don’t give you more stocks if the value goes down that much?
Once again, I’m totally right.
I don't expect layoffs in corporate. They never did during COVID, and Ernie also directly said there was no plans for layoffs. Morale is actually good, everyone drinks the kool aid and buys into the narrative we are "coiling up" our potential and waiting until market conditions to improve to explode again. I personally think they will be fine even though this year is going to be rough sales wise and the Adesa acquisition wasn't the best timing, but it does unlock a lot of benefit long term. With that all being said, I am trying to leave, the place isn't good for new grads like me
I know people who are trying to leave. Sales have tanked and they won’t see sales like Covid again. It’s a matter of time till they realize layoffs are inevitable, most good potential is leaving. focus on Phoenix in-office with the worst salaries is driving out the few talented left. Everyone’s buying into ‘coiling up’, a strategy meant to calm people down and retain them with a false promise, while executives themselves don’t know what to do because cash-flow is dead, so are internal budgets that should be cashing the ‘coiling up’ initiatives. It’s a look busy-do nothing time.all on a sinking ship ⚓️
If you are still looking at Carvana, the recent news should paint the picture for you. As fusion_ said, "I don't expect layoffs in corporate. They never did during COVID, and Ernie also directly said there was no plans for layoffs." Now you see the reality. I'm not sure there is much credibility left.
Carvana is a fraudulent enterprise and you’ll be lucky to have a job there past August
Based on what are you saying this?
Based on the fact Carvana loses money on every car they sell and engages with related party transactions with companies the Garcias own I’m honestly surprised rando guy outside the company knows this and you don’t