Seligman Bets Carvana’s High-Flying Stock Won’t Hold Up

The fund says Carvana’s valuation ignores weakening credit trends and opaque loan‑sales — and that insiders are quietly cashing out.

Stephen Taub March 17, 2026

Seligman Tech Spectrum (Master Fund) is betting against one of the hedge‑fund world’s biggest winners. In a new letter, the firm revealed a short position in Carvana, arguing that deteriorating credit quality and opaque loan‑sale activity make the company’s soaring valuation unsustainable. The online used-car

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