$Vroom, Inc.(VRM)$During trading today, shares of VRM stock have shot up by over 35% at midday which is quite substantial. This is also a major bullish turnaround from its past month performance which is down by around 32%. And, in the past six months, shares of VRM stock have fallen by around 90%. While many penny stocks climb with little to no news, VRM made an exciting announcement that is causing its sizable uptick right now.

At EOD on May 9th, the company reported its Q1 2022 financials, which exceeded guidance on all key metrics. In addition, it announced a business realignment plan. Looking at the report, we see that its e-commerce units sold increased 26% YoY, with its e-commerce revenue increasing by over 60% YoY. And, the company managed to bring in a gross profit of $34.3 million, which is 8% more than the previous year