Vroom CEO says shutting down its online used-car business was 'gut-wrenching' [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
Related: 'TikTok generation' is getting enticed with Chinese EV brands Bloomberg/Getty Images Vroom VRM CEO Thomas Shortt said that the decision on January 2024 to shut down the operations that let customers buy and sell used cars was one they were led to make in order to save the company's liquidity and value, according to a recent interview with Automotive News,. By this time, the CEO was aware that Vroom was not able to obtain enough outside capital needed to grow its online used car operations. As per Shortt, they had two options: either wait it out until March 2024, when tax return money hits auto shopper's bank accounts, or call it quits and liquidate all the remaining inventory. Vroom took the latter option, and according to Shortt, it made the most economic sense and preserved the most of their remaining cash. "We had already done that math before we got to that point," Shortt told AutoNews. View the original article to see embedded media. After joining Vroom in
Show less
Read more
Impact Snapshot
Event Time:
META
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
META alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
META alerts
High impacting Meta Platforms, Inc. - Class A news events
Weekly update
A roundup of the hottest topics
META
News
- Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows [Reuters]Reuters
- Aer Lingus Visa Signature Card review: Earn a lucrative welcome bonus and companion ticket [Yahoo! Finance]Yahoo! Finance
- Democratic officials criticize Meta ad policy, saying it amplifies lies about 2020 election [FOX News]FOX News
- Metro warns of widespread delays as bus drivers angered by violence threaten “sick out” [Los Angeles Times (CA)]Los Angeles Times
- Here's Why These Tech ETFs Are Worth Buying Now [Yahoo! Finance]Yahoo! Finance
META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website