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Why Vroom Stock Sank Today

TheMotleyFool

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Why Vroom Stock Sank TodayPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

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.

Image source: Getty Images.

Source Fool.com

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