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Carvana Shares Rise After Report Walter Pledged Stake to Citigroup

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Sig1.75Sen+3.20Env0.00Soc0.00Gov-1.50

Carvana shares gained 8.4% to $70.43 after a report said Mark Walter pledged his stake to Citigroup, citing regulatory filings. Walter and Carvana didn’t comment on whether the pledge is still in place. The update eased concerns he could sell quickly while he faces a federal probe involving his investment empire.

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