Walter Probe Weighs on Carvana as Traders Suspect Share Sale

Markets Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Georgie McKay August 18, 2026 at 5:31 PM UTC Updated on August 18, 2026 at 9:16 PM UTC Shares of online used-car dealer Carvana Co. dropped Tuesday, hurt by concerns that one of the company’s largest investors — billionaire Mark Walter — may sell down his stake as he contends with a federal probe of his investment empire. The stock closed down 7.3% on Tuesday, bringing the two-day decline to over 14%. Trading volume was significantly above average, with roughly 17 million shares changing hands, compared to a 30-day average of about 9.9 million, data compiled by Bloomberg shows.