Carvana: Ready To Crash

Carvana (CVNA) has no P/E ratio. 

It’s almost like Dean Wormer, discussing the Delta House’s grade-point average;  “Mr. Blutarsky, Zero-point-zero.”

From a chart perspective, CVNA has spent the past nine months forming a terminating wedge.

That wedge had a breakout to the downside during the last trading week of 2020.

No amount of positive bias last Thursday, (markets making new highs) was able to lift CVNA.

The stage is set.

Measured move from the nine-month wedge projects CVNA to the 87, area; a -63.7%, decline from current levels.

Charts by StockCharts

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