While Carvana’s stock is soaring, bondholders see a good time to exit

As Carvana Inc.’s stock continues its meteoric rise, the company’s high-yield bonds have seen net selling on strong volumes over the last two weeks, as bondholders balked at their high prices.

Many of the company’s outstanding bonds are trading well above par, or 100 cents on the dollar, at their highest levels of the year so far, making them look expensive.

“Carvana…