Carvana (CVNA) Lost Over 1 Billion Dollars Last Quarter **On the surface Carvana's (CVNA) last earnings report was pretty rosy.** Revenue up, earnings up, sales up. Unfortunately, the company actually lost shareholders over $1 billion dollars last quarter. While CVNA pays no dividend and reports a 'profit,' they also pay their directors and staff via massive share issuance. **Let's dive into the numbers.** Last quarter Carvana reported a 'profit' of $250 million dollars. In that same period their outstanding shares rose from 137,634,000 to 142,749,000. An increase of 5.115 million shares. At an average price between $300-400 a share that is **$1.53 - $2.04 billion dollars**. Meaning the company actually lost shareholders somewhere in the ball park of $1.28-1.79 billion dollars. Carvana's entire profitability is an illusion, at a time when truly profitable companies are buying back shares and issuing dividends. **Positions and Disclosure:** I am a retail trader not a financial advisor.…