Anybody Buying Yet? Where’s the Bottom?

[SAJ-99]

Anybody have thoughts on Carvana? I'm considering some put options. Seems like they're riding the highs from covid? I'm assuming they're having some serious headwinds with new car production picking up and used car prices coming down. I recently saw that vroom is planning to end it's used car ecommerce side of the business.
View attachment 359810

https://ir.vroom.com/news-releases/news-release-details/vroom-announces-wind-down-ecommerce-used-vehicle-operations

No interested in owning at this valuation. It seemed to get a bump on tariffs, which would hit car manufacturers more than the used cars. You are looking to buy puts, but they are horribly expensive. If I was forced into it, I would probably spread at 260-230. It is pricing in a 7% move. Cost is about $11.

 

[SAJ-99]

The last lot I have goes long term in late April, I'm tempted to sell now, but don't have any short term losses to offset. I just need no bad news until them and to schedule an earnings call for first week of May LOL.

Good luck. The price is outrageous and insiders have been selling for a while. Karp is just pumping the retail crowd, much like Musk did on Tesla. Tough place to be in. Maybe sell May calls. There are a few stocks like this one in the same position.

 

[RemingtonRules]

Waiting on my federal grant check. Until then I am in a hold strategy.