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Vroom Inc (NASDAQ:VRM) shares are trading lower by 13.6% to $0.26 during Wednesday’s session after the company this week announced it is discontinuing its e-commerce operations and winding down its used vehicle dealership business.
Vroom late Monday announced a Value Maximization Plan aimed at preserving liquidity and maximizing stakeholder value.
The plan involves halting transactions on Vroom’s website, liquidating existing used vehicle inventory through wholesale channels, discontinuing the acquisition of additional vehicles and implementing a workforce reduction in line with scaled-down operations…Read More
See Also: What In The World Is Going On With Getaround Stock?
According to data from Benzinga Pro, VRM has a 52-week high of $2.82 and a 52-week low of $0.25.
Posted In: VRM
