The report centers on Carvana's practice of loan sales as well as the business relationship between CEO Ernie Garcia III and his father, Ernest Garcia II.

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Carvana, the online used-car retailer that last week was the target of a short-selling research report, got its first broker upgrade since then which says the controversy has sparked a buying opportunity.

Carvana (CVNA) faces scrutiny from Hindenburg Research, calling its turnaround a mirage, and using accounting tricks to bolster profitability. Read more here.