VRM - Why Vroom Stock Is Plunging Today
Shares of online used-car sales platform Vroom (NASDAQ: VRM) were down sharply on Thursday, after the company provided bleaker-than-expected guidance with its second-quarter earnings report.
As of 2:15 p.m. EDT, Vroom's shares were down about 14.7% from Wednesday's closing price.
Vroom reported its second-quarter results after the U.S. markets closed on Wednesday, and the report wasn't quite what analysts had expected. While Vroom's adjusted net loss of $0.34 per share and revenue of $253.1 million were both better than Wall Street's consensus expectations (which had called for a loss of $0.70 on revenue of $234.94 million), Vroom's guidance for revenue in the third quarter fell short.