Carvana says it will lay off about 1,500 people, or ~8% of its workforce, adding to the ~2,500 workers it laid off in May 2022 (Kathryn Hardison/Wall Street Journal)

Esha Dey / Bloomberg:
Online used car marketplace Carvana’s stock hits an all-time low, closing down 13% to $7.05 on Monday; the company’s stock is down 97% in 2022  —  Online car dealer Carvana Co.’s shares tumbled to an all-time low as investors grow more concerned about the continuing decline in used-vehicle prices.

Kathryn Hardison / Wall Street Journal:
South Korean company Naver agrees to acquire Poshmark for $17.90 per share, representing an enterprise value of ~$1.2B; Poshmark stock rose 14%+ after hours  —  The boards of both companies approved the transaction  —  Naver Corp. 035420 -1.53%▼ plans to acquire Poshmark Inc. …

Kathryn Hardison / Dow Jones Newswires:
HPE Q4: revenue up 7% YoY to $7.87B, vs. $7.37B est., including Intelligent Edge up 18% YoY to $965M, HPC & AI down 14% YoY to $862M, and Compute up 16% YoY  —  Hewlett Packard Enterprise Co.’s fiscal fourth-quarter revenue increased as the company responded to strong demand.

Rebecca Bellan / TechCrunch:
TuSimple confirms plans to lay off 25% of its workforce, or an estimated 350 workers, following a rough year for the self-driving trucking company  —  Update: CEO Cheng Lu said laid off workers will remain on the payroll for two months and will receive severance.  —  Well, we knew it was coming.

Berber Jin / Wall Street Journal:
Sources: a16z’s flagship crypto fund lost ~40% of its value in H1 2022, above the 10%-20% losses at rival funds; a16z has dramatically slowed crypto investments  —  Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’  —  Crypto Crashed, Coinbase’s Stock Followed: What Went Wrong

Pranav Dixit / BuzzFeed News:
Some laid-off tech workers on H-1B visas from Meta, Shopify, Twitter, and other tech companies say they didn’t get adequate immigration support from companies  —  Some former tech employees on work visas in the US are experiencing an existential crisis: “Is it worth staying here for a job and country that doesn’t care about you?”