Carvana Rivals Vroom and CarGurus Stocks Plunge After Earnings

66
Comment
Favorite

Carvana Rivals Vroom and CarGurus Stocks Plunge After Earnings

MarketWatch2022-08-09

Vroom and CarGurus both disappoint Wall Street a week after Carvana stock shot higher despite weak resultsUsed cars became a hot commodity in the first two years of the COVID-19 pandemic.While Carvana...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

CTJL
·2022-08-09
These are over hype valuations [Facepalm] [LOL]
Reply
Like
Report
Tj23
·2022-08-09
Wow
Reply
1
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2258442194?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-08-09 11:50","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2258442194","market":"hk","top_or_hot":-1,"title":"Carvana Rivals Vroom and CarGurus Stocks Plunge After Earnings","media":"MarketWatch","content":"<div>\n<p>Vroom and CarGurus both disappoint Wall Street a week after Carvana stock shot higher despite weak resultsUsed cars became a hot commodity in the first two years of the COVID-19 pandemic.While Carvana...</p>\n\n<a href=\"https://www.marketwatch.com/story/carvana-rivals-stocks-plunge-after-earnings-11659996835?mod=mw_quote_news\">Source Link</a>\n\n</div>\n","source":"lsy1603348471595","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Carvana Rivals Vroom and CarGurus Stocks Plunge After Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCarvana Rivals Vroom and CarGurus Stocks Plunge After Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-09 11:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/carvana-rivals-stocks-plunge-after-earnings-11659996835?mod=mw_quote_news><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Vroom and CarGurus both disappoint Wall Street a week after Carvana stock shot higher despite weak resultsUsed cars became a hot commodity in the first two years of the COVID-19 pandemic.While Carvana...</p>\n\n<a href=\"https://www.marketwatch.com/story/carvana-rivals-stocks-plunge-after-earnings-11659996835?mod=mw_quote_news\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CARG","symbol_name":"Cargurus Inc.","start_time":0,"source_url":"https://www.marketwatch.com/story/carvana-rivals-stocks-plunge-after-earnings-11659996835?mod=mw_quote_news","article_id":"2258442194","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2258442194","pubTimestamp":1660017037,"sourceInfo":{"source_id":"lsy1603348471595","name":"MarketWatch"},"weMediaInfo":null,"summary":"Vroom and CarGurus both disappoint Wall Street a week after Carvana stock shot higher despite weak r","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CARG":"Cargurus Inc.","CVNA":"Carvana Co.","VRM":"Vroom, Inc."},"translate_title":"Carvana的竞争对手Vroom和CarGurus的股票在收益后暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVNA":1,"CARG":0.9,"VRM":0.9},"content_text":"Vroom and CarGurus both disappoint Wall Street a week after Carvana stock shot higher despite weak resultsUsed cars became a hot commodity in the first two years of the COVID-19 pandemic.While Carvana Inc. shares soared despite weaker-than-expected financial results last week, two of the online car-seller's smaller rivals were not as fortunate Monday.CarGurus Inc. (CARG) and Vroom Inc. (VRM) both saw their shares dive in extended trading after issuing quarterly results. CarGurus shares declined 16.4% in after-hours trading, while Vroom shares fell 17.5%.All three were among a throng of companies selling used cars online that went public in recent years, just in time for a surge in interest and sales during the COVID-19 pandemic. As the spreading virus kept people away from public transit, and semiconductor shortages combined with other supply-chain difficulties kept car manufacturers from providing new cars, websites selling used cars became more popular.In year three of the pandemic, though, that dynamic has slowed. Vroom reported that revenue decreased more than 37% to $475.5 million in the second quarter, missing Wall Street's expectations for sales by more than $65 million. While CarGurus revenue more than doubled, that was largely due to a changing business model, as the company seeks to do more business on its platform instead of relying on its legacy business of listing cars available at dealerships.Carvana missed on both profit and revenue in its report last week, but shares still soared more than 40% higher the next day, for their second-best daily gain ever. CarGurus was the only one of the three companies to beat Wall Street's expectations, posting adjusted earnings of 32 cents a share on sales of $511.2 million against average analyst expectations of 31 cents a share on revenue of $507.3 million, but surprisingly forecast a sequential decline. Executives guided for third-quarter adjusted earnings of 25 cents to 28 cents a share on sales of $460 million to $490 million, while analysts on average were expecting 33 cents a share on sales of $556 million, according to FactSet.Vroom reported a second-quarter loss of $115.1 million, or 83 cents a share, or 73 cents a share after adjustments related to \"realignment\" and other costs. That was down from an adjusted loss of 48 cents a share a year ago, and  slightly better than the average analyst estimate for an adjusted loss of 75 cents a share, though sales missed the mark.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9904824194,"gmtCreate":1660021471820,"gmtModify":1703477080913,"author":{"id":"4105075076266940","authorId":"4105075076266940","name":"CTJL","avatar":"https://community-static.tradeup.com/news/00c0da3b495a9d6aae8997a0135ebee0","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"These are over hype valuations&nbsp;[Facepalm]&nbsp;[LOL]&nbsp;","listText":"These are over hype valuations&nbsp;[Facepalm]&nbsp;[LOL]&nbsp;","text":"These are over hype valuations [Facepalm] [LOL]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9904824194","repostId":2258442194,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9904868285,"gmtCreate":1660019833650,"gmtModify":1703477058577,"author":{"id":"3571780042589602","authorId":"3571780042589602","name":"Tj23","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9904868285","repostId":2258442194,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":66,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}