Overhang capped
Margin-call enforcement
How a pledged CVNA block removes and can re-create the liquidation overhang
Walter / TWG
CVAN Holdings Sub I
holds the stake
Citigroup
collateral vault
public
market
free float
pledged collateral
~30M CVNA
~$2B block
unwinding
encumbered
breach
+9% Aug 19
sell pressure
maintenance terms undisclosed
Aug 17-18
fear priced in
probe · commitments
stock −14%
Aug 19
filing disclosure
Hunterbrook Delaware
stock +9%
dump locked · overhang capped