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For more than two years, Carvana (CVNA) enjoyed an uptrend. Shares bottomed below $8.00 and peaked last November 2024 at $268.34. Last Friday, CVNA stock fell by 11.22% to close at $177.16. Famed short-seller Hindenburg Research challenged Wall Street analysts by issuing a bearish report.
The firm bet against the used automotive seller. In its report, Hindenberg wrote that Carvana received cash from DriveTime and counted that as 100% gross margin. That became the basis of manipulated quarterly earnings in the following quarters. Instead of short-selling CVNA stock, speculators may consider buying puts.
Carvana responded to the report, saying the accusations are inaccurate and misleading investors.
Quantum Computing (QUBT) dropped by 6.69%, rewarding short sellers who hold a 10% short interest. The stock fell in sympathy with Rigetti Computing (RGTI). Neither firm has meaningful earnings that would justify its market capitalization. Momentum investors are relying on the bullishness of artificial intelligence stocks to lift quantum computing firms.
RGTI stock traded at a one-year low of $0.66. At $19.02, investors should book the 2,781% gains, in case selling momentum accelerates. Chances are high that these speculative stocks drop after the Computer Electronics Show 2025 in Las Vegas. The event is on Jan 7-10.
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