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“Carvana: The Subprime Cliff” “…On the loan side, I believe that the subprime cliff could be the most potent structural threat to Carvana, as the company isn’t just a car dealer but a subprime lender with a website. Right now, subprime auto loan delinquencies have hit approximately 6.65%, the highest level since the mid-90s and well above the peaks seen during the 2008 financial crisis. See, borrowers are facing a triple threat with high interest rates, record-high auto insurance premiums, and used car prices that remain around 30% above pre-pandemic levels… …. I believe that Carvana deserves my first-ever Strong Sell rating.” https://t.co/fVgVoyCEdO