Kerrisdale short Carvana after spike last Friday

Kerrisdale Capital said in a series of tweets: We’re short $CVNA post the 30%+ spike last Friday, report avail at http://kerr.co/cvna2. Valuation was stretched before, now at 42x ’24E EV/EBITDA, it’s plain ridiculous. CVNA is a severely levered, growth-challenged auto dealer trading like it’s an AI darling (…) Last week the company may have guided to better 1Q24 EBITDA, but consensus revenue estimates actually declined post earnings. $CVNA can’t be a one-trick pony on profits forever, it needs to deliver on substantial growth in volumes”