Carvana (NYSE:CVNA) announced Tuesday that it has taken what it calls a “poison pill” to prevent any hostile takeover offers.

The used car dealer has put in place a tax asset preservation plan designed to ensure long-term shareholder value by keeping the company’s net operating losses (NOLs) affordable. NOLs allow companies to carry forward losses for one year and deduct them from future years’ earnings to reduce taxable income.

The company said that its ability to use NOLs would be “substantially limited if 5% of shareholders increase their stake.” Thus, the plan acts as a disincentive to acquire 4.9% or more of Class A common stock.

It could be said that Carvana now views its operating losses as one of its most valuable assets, as the company’s business has been severely curtailed. A company wishing to acquire Carvana could do so because it would save enough money through NOLs to make the acquisition worthwhile. The company can then use the NOLs to offset future tax payments.