Carvana share disappoints: falls 17 percent below target

30 Apr 2017
Carvana’s initial public offering on Friday didn’t go quite as well as the company had hoped. The IPO was priced at $15 U.S. a share – right in the middle of its $14 to $16 target price – but fell 17 percent, before recovering slightly to close the day at just $11.10 a share.

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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.