One of the reasons why shorting is not something I would seek out. The company is a complete write-off, and what will it do in two years 🤯
Shares of $CVNA's Carvana Co. hit an all-time high this week - up more than 10,000% from a low in late 2022 - dealing a blow to investors who had been betting against the online used-car retailer.
As a result of this rally, investors in short positions betting against Carvana have suffered a loss of $7.42 billion since the end of 2022, according to calculations by S3 Partners. Approximately 10% of the company's freely traded shares are currently held short, down from 55% on Dec. 27, 2022, when the stock hit its lowest level.
That's pretty extreme. I don't do trading either, but lately I've been thinking about starting to invest in options.
Trading is not bad, but you have to be very careful and watch it actively and have set rules.