VRM - Why Vroom Stock Sank Today
Shares of online auto retailer Vroom (NASDAQ: VRM) dropped sharply Thursday after Wednesday night's earnings report. At 11:45 a.m. EST, shares were down 25%.
Vroom announced fourth-quarter and full-year 2020 results after the bell on Wednesday, and its net loss of $60.7 million was 42% more than it lost in the prior-year period. Adjusted net loss of $0.44 per share was also larger than the $0.37 comparable loss analysts expected, according to FactSet . The company's total revenue did beat expectations, however, at $405.8 million.
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Why Vroom Stock Sank Today