Random Shit Thread
- Thread starter Weather Man
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I cant believe i survived my childhood adjusting the antenna on the roof in the damn snow as my father yelled directions out of the window at me lol...michael!!! Left...stop shit...back right just hair...dammit boy...left
Worse than holding a flashlight lol
Worse than holding a flashlight lol
While I never had to adjust an antenna, my 67 year old dad is the same way. I just had to carry dozens of boxes into the attic when I was 13 and it was in June so it was hot AF.
Also, I'm "Mike" as well.
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Some of these covid used car darlings hitting the ropes.
Wedbush analyst Seth Basham shifted to Neutral on Carvana (NYSE:CVNA) as tougher market conditions portend an only bumpier ride for the stock, in his view.
Basham had previously maintained an “Outperform” rating on the stock, first turning toward that bullish rating on the name in October 2021. Since that point, shares have declined over 90%.
“While we have been cautious on the near-term outlook for CVNA for some time, we have maintained a positive long-term outlook given potential for solid unit economics at scale,” Basham explained. “However, a further deterioration in market conditions, a bloated cost structure, and high cash burn make this potential less likely to achieve as signaled by its 2030 unsecured bonds trading at ~60 cents on the dollar.”
He pointed to the acquisition of Adesa from KAR Global (KAR) as “an albatross around its neck” that has necessitated a spate of debt financing maneuvers. Basham added that the added unit capacity via the Adesa business is unnecessary given a slowing pace of sales.
“Our updated forecasts call for CVNA not being able to maintain enough cash to meet its floorplan requirements and finance its business through 2023 without additional committed liquidity sources,” Basham added. “Accordingly, we expect CVNA to preemptively address its cash needs in the coming months through a capital raise and/or real estate sale (mainly Adesa sites contained in its $2.1b of non-cash liquidity resources).”
While he acknowledged that “neither of these options are great”, they appear necessary as the online auto retailer’s many financing agreements add to stress on the business amid tougher market conditions. Alongside the downgrade to Neutral, Basham slashed his target price on the stock to $15 from $50. Nonetheless, he indicated the distressed auto retailer is preferable to CarMax (KMX) and deserves a premium valuation over its peer.
Wedbush downgrades Carvana on ‘bloated costs structure, high cash burn’
CVNA +6.30%Oct. 18, 2022 7:43 AM ETWedbush analyst Seth Basham shifted to Neutral on Carvana (NYSE:CVNA) as tougher market conditions portend an only bumpier ride for the stock, in his view.
Basham had previously maintained an “Outperform” rating on the stock, first turning toward that bullish rating on the name in October 2021. Since that point, shares have declined over 90%.
“While we have been cautious on the near-term outlook for CVNA for some time, we have maintained a positive long-term outlook given potential for solid unit economics at scale,” Basham explained. “However, a further deterioration in market conditions, a bloated cost structure, and high cash burn make this potential less likely to achieve as signaled by its 2030 unsecured bonds trading at ~60 cents on the dollar.”
He pointed to the acquisition of Adesa from KAR Global (KAR) as “an albatross around its neck” that has necessitated a spate of debt financing maneuvers. Basham added that the added unit capacity via the Adesa business is unnecessary given a slowing pace of sales.
“Our updated forecasts call for CVNA not being able to maintain enough cash to meet its floorplan requirements and finance its business through 2023 without additional committed liquidity sources,” Basham added. “Accordingly, we expect CVNA to preemptively address its cash needs in the coming months through a capital raise and/or real estate sale (mainly Adesa sites contained in its $2.1b of non-cash liquidity resources).”
While he acknowledged that “neither of these options are great”, they appear necessary as the online auto retailer’s many financing agreements add to stress on the business amid tougher market conditions. Alongside the downgrade to Neutral, Basham slashed his target price on the stock to $15 from $50. Nonetheless, he indicated the distressed auto retailer is preferable to CarMax (KMX) and deserves a premium valuation over its peer.
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**** yeah
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Karma
Ive seen some wild accidents but I can't seem to wrap my head around this one
That seems like a screen grab from Man of Steel with Henry Cavill.
In story, how did Clark destroy the truck in Man of Steel without being caught?
On January 12, 2012, we received one of our first glimpses of an intriguing visual from the set of Man of Steel. It was one of the first released materials and likely earlier in production. In th...
scifi.stackexchange.com
That seems like a screen grab from Man of Steel with Henry Cavill.
In story, how did Clark destroy the truck in Man of Steel without being caught?
On January 12, 2012, we received one of our first glimpses of an intriguing visual from the set of Man of Steel. It was one of the first released materials and likely earlier in production. In th...
well that would explain it
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