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Why TrueCar's Shares Jumped on Friday

TheMotleyFool

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Shares of online car-shopping service TrueCar (NASDAQ: TRUE) surged on Friday, as bargain-hunting investors waded back in after Thursday's market rout.

TrueCar's shares closed on Friday at $2.68, up 10.3% from Thursday's close.

TrueCar's shares were clobbered in February after the company disclosed that it was breaking up with a longtime partner. USAA Federal Savings Bank, a TrueCar partner for 13 years and the source of 29% of its customers, decided to end the partnership as of Sept. 30.

Source Fool.com

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