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Nicholas Parks Profile picture
Nicholas Parks
@nhparks
TCU Frog. GWU Law. EEOC; anti-arbitration and anti-monopoly law. If you're not chasing waterfalls, what are you even doing? https://t.co/O47MgvzGnS
May 22, 2020 • 4 tweets • 1 min read
This thread triggered me for some reason tonight. I don’t know this guy and have nothing against him, but he’s clearly out of his depth. I just want to remind folks of a few things re $CVNA. In their last 10Q, they reported a NET LOSS of $3500 PER UNIT! GP/unit was only $2650! In the year prior Q, they only lost $2200/unit. Their interest exp alone cost $550/unit this Q! SGA was $5250/unit. That’s double GP! Interest and other expenses add another $900 to that. They spend $6k/unit so they can gross less than $3k/unit.