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No, Carvana Isn't About to Turn a Profit

No, Carvana Isn't About to Turn a Profit

Online used car retailer Carvana (NYSE: CVNA) made progress in the first quarter, bringing down inventory levels, boosting gross profit per vehicle sold, and inching toward profitability. "Carvana expects to record core profit in second quarter; shares jump" reads a headline at a major news outlet. "Carvana expects to achieve adjusted profit sooner than expected amid restructuring; shares surge" reads another.