Carvana nirvana? Shorted stock surges 56% as company predicts record profits

On Thursday, online car-retailer Carvana announced an especially rosy outlook (i.e. forecasted record profits) for the second quarter of 2023, and investors responded by driving the company’s stock price up 56% before the market closed. The company closed the day worth $4.58 billion, according to Google Finance data.
The retailer — a popular short — predicted in May that it would report a quarterly profit in Q2. At the time, the company didn’t offer a specific figure. In its latest statement to investors, Cavana said it anticipates an adjusted EBITDA north of $50 million. Wall Stre

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