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How Carvana survived a 99% stock collapse | Next to Lead

April 20, 2026 00:00 AM UTC
- Updated April 27, 2026 18:59 PM UTC

In late 2022, Carvana was flirting with bankruptcy after its stock collapsed 99% in just 16 months. Now, the online used-car retailer is staging a stunning comeback, pouring billions into acquisitions, infrastructure, AI, and its signature car vending machines. In this episode of Next to Lead, Fortune’s C-suite and Leadership editor Ruth Umoh sits down with Carvana strategy chief Christina Keiser to discuss what it will take to sustain that momentum and how it came back from the brink.

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