Reported 2 days ago
Carvana Co. has renewed its agreement with Ally Financial to sell up to $4 billion in used-vehicle loan receivables over the next year, countering claims from Hindenburg Research that Ally was retracting its support. The deal is critical for Carvana's operations, as Ally has historically financed a significant portion of its loan originations. Despite previous concerns about the company's financial stability, Carvana's stock surged following improved results, and analysts believe the company is moving past its challenges.
Source: YAHOO