Carvana Targeted by Short Seller, Sending Shares Tumbling

Carvana Co.’s shares fell the most in more than nine months after a short seller alleged the online auto retailer overstated earnings with the help of close ties to businesses...

By David Welch · Bloomberg Markets

Carvana Co.’s shares fell the most in more than nine months after a short seller alleged the online auto retailer overstated earnings with the help of close ties to businesses controlled by the family of Chief Executive Officer Ernie Garcia III.