> You gotta love how a roughly %3 decrease in year-to-year revenue leads to a %97 decrease in the stock price and an increase in the net loss from ~$30 million to ~$300 million

It's not that surprising. Revenue is worth nothing without a healthy margin, and that's where Carvana seems to have a problem. This quickly turns a company which could be profitable if it didn't invest as much into the future, into a company that is bleeding money and might be headed for bankruptcy. It explains a big part of the change in valuation.