Bankruptcy Fears For Used Car Seller Carvana
Online used car seller Carvana ended a week of swinging share prices amid fears of possible bankruptcy on the horizon.
Carvana stock soared during the pandemic, reaching an August 2021 high of more than $360 per share. It was trading around $5 Friday.
On Tuesday, [Bloomberg reported](https://www.bloomberg.com/news/articles/2022-12-07/apollo-pimco-sign-pact-to-prevent-creditor-brawl-over-carvana) that Carvanas largest creditors entered a binding agreement to work together in negotiations with the company.
On Wednesday, the companys stock fell below $5 per share for the first time since its 2017 IPO.
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