Carvana (CVNA) shares continued their slide Friday after 澳洲幸运5开奖号码历史查询:short-selling firm Hindenburg Research 澳洲幸运5开奖号码历史查询:declared a short position in the company, but JPMorgan analysts stuck with their "overweight" call on the ♊used-car retailer.

JPMorgan wrote Friday that its own research on Carvana “has not suggested any red flags" regarding the company.

The Hindenburg report sounded alarm bells about the company's 澳洲幸运5开奖号码历史查询:gross profit per unit and practice of selling consumer 澳洲幸运5开奖号码历史查询:auto loans to third parties. Specifically, the hedge fund claimed to have uncovered $800 million in loan sales to an unidentified “related third party" and said that nearly 26% of the company's gross profit over the past nine months was due to such loan sales.

JPMorgan Doesn't See Carvana Reporting as 'Inflated'

JPMorgan said in a note that there is "room for CVNA to provide more disclosure,” but said the issues around auto-industry loan defaults ar෴en't new and that demand fಌor used cars remains strong.

“We do not see 🅰CVNA’s reported economics as i෴nflated,” the analysts added. 

Shares of Carvana almost 5% intraday Friday after losing about 2% Thursday. The company's shares have, however, nearly quadrupled in value in 2024—a huge turnaround after 澳洲幸运5开奖号码历史查询:bankruptcy concerns hurt the company’s share p🌊rice in pr💟evious years.