One of the reasons why shorting is not something I would seek out. The company is a complete write-off, and what will it do in two years 🤯

Shares of $CVNA's Carvana Co. hit an all-time high this week - up more than 10,000% from a low in late 2022 - dealing a blow to investors who had been betting against the online used-car retailer.

As a result of this rally, investors in short positions betting against Carvana have suffered a loss of $7.42 billion since the end of 2022, according to calculations by S3 Partners. Approximately 10% of the company's freely traded shares are currently held short, down from 55% on Dec. 27, 2022, when the stock hit its lowest level.