Why Driven Brands Stock Crashed Today
Driven Brands (NASDAQ: DRVN) stock, the holding company that runs such well-known automotive services brands as MAACO, Meineke Car Care, Take 5 Oil Change, and Auto Glass Now, tumbled 35% through 10:40 a.m. ET Wednesday morning after filing notice with the SEC that "there were material errors in our previously issued consolidated financial statements for the fiscal year ended December 28, 2024 ... and the fiscal year ended December 30, 2023."
Errors range from "the completeness and accuracy of recording leases" to the misclassification of "supply and other expenses" to "unreconciled differences for cash accounts" discovered in the process of (trying to) prepare its financial report for Q4 2025.
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Source Fool.com
