Carvana (CVNA.US) CEO plans to cash out $192 million at a high level, setting the record for the largest sell-off since the IPO.

According to the financial app Zhitong Caijing, on Wednesday, at the time of the sharp rise in the stock price of the used car retailer Carvana (CVNA.US), the company's CEO Ernest Garcia III submitted documents to sell $192 million worth of shares, marking his largest personal sale since the company went public in 2017.