TrueCar Stock Gains As Goldman Sachs Takes Stake

Goldman Sachs Group Inc GS has taken a 6.3% stake in TrueCar Inc TRUE, regulatory filing shows.
Founded in 2005, TrueCar is an automotive digital marketplace that enables auto buyers to connect to its nationwide network of Certified Dealers.
Santa Monica, California-based TrueCar powers auto-buying programs for more than 250 brands.
The company offers the purchasing process online by allowing consumers to find a new or used vehicle suitable for them, secure financing, sell or trade-in their current vehicle, and complete their purchase with a dealer.
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Price Action: TRUE shares traded higher by 7.46% at $3.39 on the last check Monday.