June 9 Reuters Usedcar retailer Carvana Co39;s shares rose about 6 in premarket trade on Friday, a day after the debtladen company forecast a secondquarter profit that analysts fear could be just a 39;onetime39; gain.

The shares were down earlier in the session. On Thursday they had surged as much as 68 to 26.09 with some help from traders covering their bearish bets after the company forecast more than 50 million in currentquarter adjusted core profit, exceeding expectations of most analysts.

While analysts have been encouraged by the outlook, they do not believe the gain is sustainable as the company has been struggling to sell cars acquired at elevated prices, with buyers restricting their spend due to concerns of an impending recession, and has taken a slew of costcut measures.

They believe the improved outlook was a result of the sale of financing receivables.

We believe the sale of receivables is likely one time in nature as CVNA pushed off sales of receivables in 4Q22 and the banking crisis in 1Q23 was a drag on receivables sales, said Michael Baker, analyst at D A Davidson.

Carvana, known for its carvending machines, said it sold or securitized loans worth about 2 billion as of June 8, compared with 1.3 billion sold or securitized as of May 4.

Analysts also echoed worries about Carvana39;s plans to profitably return to growth given the existing debt load.

We found management39;s commentary on returning to growth profitably while potentially exploring the…