Why Carvana Investors Slammed on the Brakes Today

Why Carvana Investors Slammed on the Brakes Today

On Wednesday, investors threw Carvana (NYSE: CVNA) stock sharply in reverse. Tuesday afternoon near market close, Carvana announced that it reached a settlement with the state of Illinois. In return for admitting it violated Illinois law, it will be allowed to continue transacting vehicles through its online platform and via its car vending machine located in the city of Oak Brook.