Carvana Stock Plummets 12.72% in Two Days as Insider Selling Surges to $19.94 Billion Trading Volume Ranking 29th

Volume AlertsFriday, Jun 13, 2025 8:10 pm ET
1min read

On June 13, 2025, Carvana (CVNA) experienced a significant decline, with a trading volume of $19.94 billion, ranking 29th in the day's stock market activity. The company's stock price dropped by 6.87%, marking the second consecutive day of decline, with a total decrease of 12.72% over the past two days.

Carvana director Gregory Sullivan sold 5,000 class A common shares of the company on June 12. The sale was disclosed in a regulatory filing, with each share sold at a price of $332.23. This transaction is part of a broader trend of insider selling at Carvana, which has seen significant activity in recent months.

In May, major shareholder Ernest C. Garcia II sold 50,000 shares, and CFO Mark W Jenkins sold 51,380 shares. Additionally, Thomas Taira sold 5,000 shares on May 1st at an average price of $260.00. These sales have raised concerns among investors about the company's future prospects and the potential for further declines in the stock price.

Legendary investor Jim Chanos has also expressed skepticism about Carvana's business model, warning of staggering insider selling and stretched valuations. Chanos' bearish stance has added to the negative sentiment surrounding the stock, contributing to the recent decline in its price.

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