Why Vroom (VRM) Stock Is Volatile Again

Vroom Inc 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

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According to data from Benzinga Pro, VRM has a 52-week high of $2.82 and a 52-week low of $0.25.