Hindenburg unleashes short report on Carvana

Nate Anderson’s short-selling firm, which has been on something of a winning streak lately, published a searing new report on Carvana Thursday, calling the firm an “accounting grift for the ages,” its recent business recovery “a mirage,” and predicting that corporate leadership “will leave shareholders with nothing.”

The stock, which was up 284% in 2024, fell 2.9% in recent trading. It’s down about 23% over the past month.

Carvana didn’t immediately respond to our request for comment on the allegations laid out in the report — which you can read for yourself here — and the company did not comment to CNBC.

Hindenburg Research shorts Carvana, calling company's turnaround a 'mirage'

Carvana didn’t immediately respond to our request for comment on the allegations laid out in the report — which you can read for yourself here — and the company did not comment to CNBC.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

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