industry that was down low to mid-single digits year-over-year. " CVNA's premium valuation reflects the baked-in, profitable growth prospects, albeit negated by the mixed margin performance against peers. Risks include seasonal trading weakness, elevated short interest, insider selling post-August-recovery, and ongoing macro headwinds such as high borrowing/fuel costs. In this article, I shall discuss why CVNA remains a Hold, with the ongoing consolidation 16. 15K Followers Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.