Posted on 12/07/2022 11:10:44 AM PST by Presbyterian Reporter
Shares of Carvana plummeted by more than 40% in Wednesday morning trading after the embattled online used car retailer’s largest creditors signed a deal binding them to act together in negotiations with the company.
The pact, as first reported by Bloomberg, includes creditors such as Apollo Global Management and Pacific Investment Management that hold around $4 billion of Carvana’s unsecured debt, or about 70% of the total outstanding. The agreement will last at least three months.
(Excerpt) Read more at cnbc.com ...
Could be worse. You could have got a Biden.
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