Third Point Hit Hard by New Bet on Carvana

Dan Loeb’s fund established the position in the car company in Q1 as the stock was peaking, according to filings.

Modern car with aerodynamic colorful light trail at night.

Artur Debat/Getty Images

Third Point was solidly in the red for the first quarter after suffering a 3.9 percent loss in March, according to its latest monthly report, seen by Institutional Investor.

The hedge fund headed by Dan Loeb was down 3.2 percent for the first three months of the year, the report says.

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