LOTZ - CarLotz sinks to new low after lack of guidance disappoints

CarLotz ([[LOTZ]] -16.2%) slides after the company's Q1 earnings report disappointed.William Blair analyst Sharon Zackfia says the omission of gross profit per unit guidance for Q2 is causing some investor angst about the visibility on the company's track to meet full-year targets. CarLotz has already missed its original gross profit per unit targets for both the fourth and first quarters, according to the analyst.CarLotz reported revenue growth of 123% in Q1 and recorded a $0.15 EPS loss for the quarter.CarLotz traded at a new post-IPO low of $5.00 earlier in the session.Read how CarLotz execs described the quarter in the earnings call transcript.

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CarLotz sinks to new low after lack of guidance disappoints