Wedbush notes that Hindenburg Research issued a “short report” on Carvana (CVNA) last Thursday and after reviewing the report and speaking with the company, the firm sees no “smoking guns” and calls many of Hindenburg’s claims “exaggerated” or “old news,” including concerns over the company’s financing business and related party transactions. However, the firm adds that it expects a “mixed” Q4 and slowing growth in 2025, so it stays Neutral on the stock for these reasons as well as valuation.
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