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Vroom (VRM) was a hot IPO. And although the stock still trades substantially higher than its IPO price of $21 per share, the stock is now likely to rerate lower once the dust settles and investors have had time to digest its unimpressive near-term prospects.
The stock is still priced at more than 5x trailing sales, despite pointing towards marked revenue growth deceleration.
For now, I argue that investors would do well to sidestep this investment and look to reenter this stock at a lower price point.