Although I’ve written about Carvana many times, including the fact they were effectively founded by an ex-convict, I’ve never traded it until today. This thing has collapsed into near-worthlessness but, for reasons no one can quite explain, it has completely recovered. It isn’t a pattern. This isn’t based on anything rational. I just decided enough was enough, so I bought puts.
In my defense, I will say that a p/e ratio measured in the TENS OF THOUSANDS is a bit of a tip-off.
