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 that Carvana’s largest creditors entered a binding agreement to work together in negotiations with the company.On Wednesday, the company’s stock fell below $5 per share for the first time since its 2017 IPO.