carvana
shares are falling in Wednesday’s trading, following a downgrade by BofA Securities. The move comes after shares have fallen 97 percent year-to-date, although BofA is not alone in driving the decline in used-car sellers.
Analyst Nat Schindler downgraded her rating on Carvana stock (ticker: CVNA) from Buy to Neutral and reduced her price target to $10 from $43. The move comes after Moody’s downgraded the company’s debt rating to negative last week, he wrote.
