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  "documentTitle": "Carvana Co. (CVNA)",
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  "presentationDate": "2019-03-01 00:00:00",
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      "text": "Carvana Is An Auto Dealer, Not An Asset-Light Tech Company – And Management Is Forecasting Pie-In-The-Sky Results On Unrealistic Scalability",
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      "kind": "list",
      "text": "Supporting Profitability With Dubious One-Offs; 100% Gross Margin Finance Revenue Driving GPU; Carvana A Loan Broker?; Questionable Vehicle Service Contract (VSC) Sales",
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      "text": "A Used Car Dealer, Not A Tech Company; Profitability Targets Are Overly-Ambitious; Carvana Outgrowing Shared Service Agreements With DriveTime",
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      "text": "downside: 50%-70%",
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      "text": "Spruce Point Sees 50%-70% Downside In CVNA, And Up To 100% Downside In An Extreme Scenario",
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      "text": "Questionable Accounting And Dubious Sources Of Gross Profit Per Unit (GPU)",
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