VRM - Vroom stock up some 8% as online auto sellers mostly rally for first time in weeks

Online auto seller Vroom Inc. (VRM) is rising some 8% Monday as the sector mostly rallies following a few weeks of lackluster price action, especially among recently public names that have foundered since hitting the market. Vroom traded as high as $40.04 during the session -- up 8.7% on the day – but pulled back a bit to $39.79 shortly before 2 p.m. ET. It wasn’t immediately clear why the stock was moving, as Vroom hasn’t released any news and the company didn’t immediately respond to a request for comment. However, other online car sellers were rising as well, with Carvana up some 1.6% at $265.55 and recently listed CarLotz (LOTZ) ahead 1.9% at $10.65. Still, Shift Technologies bucked the trend and was trading at $8.12, down 1%. Much of the sector has been sliding since mid- to late January, and Vroom, Shift and CarLotz are all still trading below

For further details see:

Vroom stock up some 8% as online auto sellers mostly rally for first time in weeks