Carvana Pops 10% as Traders Call Its S&P 500 Addition ‘Market Manipulation’ and Bet Against Rally

Shares of Carvana (NYSE: CVNA) jumped 10% successful pre-market trading connected December 9, 2025, pursuing quality that the institution volition articulation the S&P 500 connected December 22. Yet retail sentiment tells a starkly antithetic story. On Reddit and X, traders stay profoundly skeptical, with societal sentiment scores hovering astir 25 retired of 100, firmly bearish territory. While organization wealth prepares to determination successful done scale funds, retail investors are calling it "one of the top marketplace manipulations successful history."

The disconnect is striking. Carvana has surged 120% year-to-date and 45% successful the past period alone. Analysts astatine JPMorgan Chase & Co. (NYSE:JPM) upgraded the banal to Overweight with a $425 target. The institution posted grounds Q3 adjusted EBITDA of $637M and sold 155,941 retail units, up 44% year-over-year. Yet mentions connected r/WallStreetBets stay overwhelmingly negative, with users questioning wherefore executives are selling millions of dollars successful shares astatine $370-$400 if the concern is genuinely healthy.

$CVNA liquidity situation tomorrow
by
u/dowgy in
wallstreetbets

The station warned that "Carvana is astir to look a liquidity crisis" and pointed to insider selling arsenic a reddish flag, stating: "The CFO, President, and a Director each sold shares successful the past week astatine prices betwixt $370-$400. If the concern is truthful steadfast and the banal is going to $420+, wherefore are insiders dumping?"

The skepticism centers connected 3 cardinal concerns:

• Insider selling totaled implicit $30M successful aboriginal December, with CFO Mark Jenkins, President Thomas Taira, and Director Michael Maroone each disposing of shares astatine $370-$400

• Used car request whitethorn beryllium weakening aft request was pulled guardant owed to EV recognition expirations and tariff concerns

• Historical accounting concerns and related-party transactions involving CEO Ernest Garcia III and his father, who owns astir 40% of diluted shares

One wide discussed station connected r/WallStreetBets asked directly: "Can idiosyncratic delight explicate wherefore I'm anserine and the analysts are right, and that $CVNA is going to 420?" The 157 comments reflected disorder implicit however organization buyers could beryllium truthful bullish portion executives currency out.

Explain $CVNA bull case? Execs selling, utilized cars request weakening
by
u/marketwatcher2024 in
wallstreetbets

Today's rally stems from forced buying mechanics. Index funds indispensable acquisition astir 16 cardinal Carvana shares by December 19. Combined with 12M shares sold abbreviated and marketplace makers hedging recently in-the-money telephone options, the method setup favors a near-term squeeze. But retail traders spot this arsenic the "grand finale," not a cardinal revaluation. Watch for continued volatility done month-end arsenic these buying pressures collide with persistent insider selling and retail skepticism.