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"Wall Street, for instance, projects Vroom will burn through about $100 million in 2022. The comparable figures for Shift and Carvana are about $165 million and $1.4 billion, respectively."
This leaves $VRM with $500M cash til end of 2022 as management has estimated.
Burning $164M for $SFT and $1.4B for $CVNA will leave both companies out of cash unless they issue more bonds and/or shares. VRM has the strongest balance sheet among the 3.
https://www.barrons.com/articles/vroom-shift-carvana-stocks-sell-analyst-51660568067
(https://seekingalpha.com/article/4533431-carvana-heading-toward-a-liquidity-event)
How Does Light Volume Affect the Stock Market?
By: Victoria Duff
This potentially means:
Light volume can be used for a tactical trading strategy. It is possible for a large institutional investment fund to influence market direction during a low-volume day by trading large blocks of stock. Low volume means there are fewer shares trading, and fewer shares means less liquidity across the broad market. Stock price volatility rises in a low volume market. Trading huge blocks of stock in an illiquid market can cause significant changes in the prices of those stocks. If the stocks traded are among certain market-leading large cap stock issues, the changes in those issue prices can affect the performance of the indexes -- either up or down depending on whether there is buying or selling.
Again Institutions own more than 100%. The fundamentals do not matter as long as Carvana has enough cash for a couple of months. The institutions will dictate the price. So don't short unless you have the resources and convictions to wait it out. Institutions will continue to pump it up. It will eventually crash, but you have no idea how high it will go up before everyone rushes to sell.