Hindenburg Research takes a short position in Carvana, accusing the company of an 'accounting grift'.
Hindenburg alleges that Carvana engaged in 'sham' deals with a private dealership run by the father of Carvana's CEO and uncovered $800 million in loan sales to a suspected undisclosed related party.
Carvana denies the allegations, stating that Hindenburg's report is intentionally misleading and inaccurate.
Hindenburg also highlights the company's solvency risks and the significant stock sales made by insiders.