Carvana (CVNA) Risk Framework (Educational)

Carvana (CVNA) risk memo discusses leverage, risks, financials, outlook, comps. It also discusses how management overpaid for Adesa and EBITDA went from $100mn to -$8mn overnight. 
 
E-mail for memo that is attached to model.
 
Free to Silver and Gold subscribers (see Plans & Pricing): https://www.specialsitsresearch.com/plans-pricing