Plunging used car prices are probably why $CVNA and $KMX have plunged significantly
Even if the decrease in used car prices is small, it is a sign that used car dealers are going to see themselves losing their pricing power fast. That's why investors are pulling out of $KMX $CVNA and other used car dealers.

Does it signify that the chip shortage is going away soon? No. Companies like $F are reporting sales declines because they can't produce more vehicles.

Dollars and Sense's avatar
My favorite $CVNA fact is they filed 368 Form 4s during 2021. Insiders basically day trading the stock.
Steve Matt's avatar
@dollarsandsense That's wild. Is that a record? There has to be a person/site that tracks that lol
Dollars and Sense's avatar
@interrobangbros Its actually not a record. The record is 587 from ZoomInfo $ZI. And there is a company called Bedrock AI that tracks a lot of the weird things found in SEC filings.
Stanley's avatar
I'm actually in the market for a used Jeep Wrangler Unlimited and waiting (impatiently) for prices to fall back to somewhat reasonable levels.