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Cars in Vending Machines, a Fading IPO and an Ex-Con Owner

  • Carvana’s shares controlled by character from S&L loan scandal
  • Online used-car vendor looks to stand out in troubled market
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Who wants to buy a used car from a vending machine?

Enough customers to help a young company called Carvana Co. double its revenue in the first quarter of this year. Its first earnings report since going public in April, released after the market closed on Tuesday, showed its net loss doubling as well -- roughly in line with analysts’ estimates and in keeping with the company’s strategy of rapid expansion. Carvana’s share price closed at $9.53, up 6 percent.