What's Going On With Vroom Stock Wednesday?
Portfolio Pulse from Adam Eckert
Vroom Inc (NASDAQ:VRM) and Carvana Co (NYSE:CVNA) shares surged following Carvana's strong Q2 results. Carvana reported Q2 revenue of $2.97 billion, beating estimates of $2.59 billion, and a 94% YoY increase in gross profit per unit. The company also guided for positive adjusted EBITDA in Q3 and announced an agreement to reduce total debt, extend maturities, and lower near-term cash interest expenses. Vroom, a direct competitor of Carvana, has been moving higher alongside Carvana shares in recent months.
July 19, 2023 | 1:24 pm
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POSITIVE IMPACT
Carvana shares surged following strong Q2 results. The company reported Q2 revenue of $2.97 billion, beating estimates of $2.59 billion, and a 94% YoY increase in gross profit per unit.
Carvana reported strong Q2 results, beating revenue estimates and reporting a significant YoY increase in gross profit per unit. This positive financial performance is likely to have a positive impact on the company's stock.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Vroom shares are up following Carvana's strong Q2 results. The stock has been moving higher alongside Carvana shares in recent months.
Vroom is a direct competitor of Carvana and its stock has been moving higher alongside Carvana shares in recent months. The strong Q2 results from Carvana are likely to have a positive impact on Vroom's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80