Carvana more than doubled its job postings in six months. The stock is down 25% over the same stretch.

Carvana's hiring numbers stopped me this morning. According to altindex, open job postings were sitting around 1,000 in mid January. Today the count is over 2,150. More than double in six months, and up 35% in the last month alone. Companies don't staff up like that to run a flat business. The stock went the other way. $88 in mid January, $67 now. What they're spending on is public if you go looking. They launched new car sales and the early numbers look real. Q1 revenue came in at $6.4B, up 52% YoY, and EPS beat. On July 7 they rolled out same-day delivery in Milwaukee. In late June they announced a new inspection and reconditioning center in Sarasota. Ro Khanna disclosed a buy back in May too, for whatever congressional trades are worth to you. Also might be early because no ones talking about the company. CVNA was getting 130+ Reddit mentions a week in February. Last week it got 3. The retail crowd fully moved on right while the company doubled its headcount ambitions. Stock did pop 4% today, so maybe that's starting to change. I don't own it and I'm still deciding. My hesitation is the 38x earnings multiple, which already prices in a lot of execution. Has anyone dug into the new car side of the business? Trying to figure out whether hiring growth actually leads revenue here or whether I'm reading tea leaves.