Investing.com -- Carvana shares came under heavy pressure on Wednesday following newly circulated allegations tied to the online retailer’s relationship with DriveTime, but BTIG pushed back strongly, arguing that the most serious claims lack foundation. Because its Bridgecrest unit consolidates bankruptcy-remote trusts, BTIG said the allegations “incorrectly” treat securitizations as recourse debt. Adjusted properly, BTIG calculates 2024 Adjusted EBITDA of $99 million against $511 million of warehouse debt, “much more manageable” than alleged. BTIG further rejected suggestions of a roughly $900 million loan write-down, calling the logic “incorrect” because year-end fair values reflect cumulative loan activity, not a single year’s originations. BTIG reiterated its Buy rating and $535 price target on CVNA, saying its estimates “are not under review at this time.”Related articlesCarvana stock defended at BTIG amid DriveTime allegationsBarclays upgrades Zillow as it sees improved executionHow Trump creates another ’run-hot’ influence on the economy