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- [00:01]
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This is Scott Becker with the Becker Business. In the Becker Private Equity podcast, we try and each day bring you one to two business episodes, typically short episodes about a business or company or market topics, plus an interview a day from a business leader. Thank you for listening. We hope you enjoy the cadence. Today's discussion is Carvana Surges. So here's what's going on with Carvana and it's really a remarkable situation. We're going to title this Carvana is in first gear. So Carvana over the last several years has evolved into the premier online car company and I think most people didn't really see this coming. It got up to a fast start, but there were lots of questions about its accounting and about how it was lending people money to buy cars that led people to believe that they had inflated their car numbers. Now as I talk to car people more and more, their perspective visit Carvana has gotten so big that their leverage to buy cars at wholesale is so much better than a lot of different dealers that they will buy things cheaper and then sell them at a profit still, and it gives them an advantage over other car dealers is the sense that I get. So since 2022, when Carvana almost went broke, they have essentially recovered incredibly well. They're up this year 124% year to date. They're about to join the S&P 500, which makes them feel like a very real company. They'll join the index and being part of the index helps because now every index investor has you as part of their portfolio. They're also up 18% or so over the last 10 days or so. Again, Carvana finds itself in first gear many of us and there was a short report on Carvana that criticized Carvana that led to some downturn earlier this year. They seem to have erased a lot of those worries. We'll see if it lasts. Again. There's always been a little bit of a cloud over Caravana, but they seem to be really surging and accelerating, going from zero to 60 in a hurry. Thank you for listening to the Becker Business, the Becker Private Equity Podcast. We'll encourage you. If you haven't done so already, please go online at Amazon and pre order a hardcover of our latest book, Building Great Businesses Create Momentum, Overcome Setbacks and Scale with confidence. Thank you for listening and God bless you and God Bless America. Thank you.
- [03:33]
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