Carvana downgraded to Market Perform from Outperform at William Blair

William Blair analyst Sharon Zackfia downgraded Carvana to Market Perform from Outperform following news that about 70% of Carvana’s debt holders are banning together for negotiations, which she reads as a sign that Carvana’s "cash crunch is worsening." The firm’s model continues to forecast that the company has enough liquidity to make it through 2023, the model is also based on markedly improving trends in 2023 and rising interest rates and greater pressure on consumers "could imperil" that scenario, Zackfia said.