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Carvana Stock Is Sliding After Larger Than Expected Loss. It’s Selling $1 Billion of Shares, Too.


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Carvana stock was falling Thursday after the online used car dealer said it plans to raise up to $1 billion in capital and reported wider than expected losses in the first quarter as it grapples with network disruptions and macroeconomic uncertainty.

Carvana (ticker: CVNA) posted a loss attributable to the company of $260 million in the first quarter, or a loss per share of $2.89, compared with a loss attributable to the company of $36 million, or a loss per share of 46 cents, in the year-ago period. Analysts polled by FactSet…