Vroom (VRM) Discontinues E-commerce Used Vehicle Operations [Yahoo! Finance]
Vroom, Inc. (VRM)
Company Research
Source: Yahoo! Finance
Vroom is a parent company of CarStory and Unites Auto Credit Corporation (“UACC”). Both CarStory and UACC will keep serving third-party customers. The company is suspending transactions through vroom.com as per the Value Maximization Plan approved by its board of directors. It plans to sell its current used vehicle inventory through wholesale channels and halt purchases of additional vehicles. As part of the plan, Vroom expects to lay off 800 employees, which makes up 90% of the company's total workforce. Established in 2013 by two American entrepreneurs, Vroom, a used car trading business, was overtaken by Elie Wurtman and Allon Bloch, who turned it into an online platform dealing with the purchase, repair and sale of vehicles. Vroom went public in June 2020 and hit a record $8.1 billion valuation in August 2020, but its market cap slid to $75 million in January 2024. Per Thomas Shortt, CEO of Vroom, the company failed to raise additional capital to fund its operations and s
Show less
Read more
Impact Snapshot
Event Time:
VRM
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
VRM 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
VRM alerts
High impacting Vroom, Inc. news events
Weekly update
A roundup of the hottest topics
VRM
News
- Vroom to Release First Quarter 2024 Earnings on May 9, 2024Business Wire
- Vroom Announces Fourth Quarter and Full Year 2023 Results [Yahoo! Finance]Yahoo! Finance
- Vroom Announces Fourth Quarter and Full Year 2023 ResultsBusiness Wire
- Vroom to Release Fourth Quarter and Fiscal Year 2023 Earnings on March 13, 2024Business Wire
VRM
Earnings
- 11/7/23 - Miss
VRM
Sec Filings
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- VRM's page on the SEC website