The company ended transactions through vroom.com , completed previously contracted transactions, sold “substantially all” of its used vehicle inventory and paid off a vehicle floorplan financing facility, Vroom said in a Thursday (April 4) filing with the Securities and Exchange Commission .Vroom completed the previously announced wind-down of its eCommerce and used vehicle dealership businesses.Vroom announced Jan. 22 that it had begun to wind down the eCommerce and used vehicle dealership businesses.UACC ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39315 VROOM, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Org ...

Exhibit 99.1 Vroom Announces Fourth Quarter and Full Year 2023 Results Substantial Progress on Value Maximization Plan NEW YORK – March 13, 2024 – Vroom, Inc. (Nasdaq:VRM) today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. HIGHLIGHTS OF FOURTH QUARTER AND FULL YEAR 2023 CURRENT PROGRESS ON VALUE MAXIMIZATION PLAN Tom Shortt, the Company's Chief Executive Officer, said "As we previously announced, in January 2024 Vroom's Board of Directors approved a Value Maxim ...

One of today’s most impressive movers happens to be Vroom (NASDAQ:VRM). Shares of the used car company have skyrocketed in today’s session, with VRM stock up more than 25% at the time of writing.This move appears to be tied to increasingly bullish sentiment building in this space following key earnings from rival Carvana (NYSE:CVNA). Shares of CVNA stock rocketed more than 40% higher at one point today following incredible full-year results earlier today. In fact, Carvana posted a full-year profit of $150 m ...

Vroom, Inc. (VRM) announced that it is discontinuing its e-commerce operations and shutting down its used vehicle dealership business to preserve liquidity and optimize stakeholder value.Vroom is a parent company of CarStory and Unites Auto Credit Corporation (“UACC”). Both CarStory and UACC will keep serving third-party customers.The company is suspending transactions through vroom.com as per the Value Maximization Plan approved by its board of directors. It plans to sell its current used vehicle inventory ...

Vroom (NASDAQ:VRM) stock is plunging over 40% in early trading after the used-car retailer announced that it had suspended its e-commerce business. Moreover, the firm disclosed that it would be “winding down” its dealerships and laying off 90% of its employees.  With its focus on selling cars online during the pandemic, Vroom thrived as many consumers were afraid to travel to dealerships. However, the company and VRM stock have struggled mightily in the post-pandemic economy.Vroom’s Cost-Cutting MeasuresGoi ...

Vroom (NASDAQ:VRM) stock is falling on Tuesday after the used-car selling and buying e-commerce company announced plans to wind down its business.A press release from Vroom reveals that it will discontinue its e-commerce operations while winding down its used vehicle dealership business. The company is doing so to conserve preserve liquidity and maximize shareholder value.As a result of this plan, the company intends to halt transactions on vroom.com. It will also sell its current inventory of used vehicles ...

Key TakeawaysVroom said it plans to discontinue its e-commerce business and wind down its used vehicle dealership.The company said it has been unable to raise the necessary capital to fund its e-commerce operations.The stock traded sharply lower following the news and could break down below a falling wedge pattern to a new all-time low. Vroom, Inc. Source: TradingView.comShares of vehicle e-commerce platform Vroom (VRM) plunged over 50% ahead of the opening bell Tuesday after the company said it plans to ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Vroom is winding down its eCommerce operations and discontinuing its used vehicle dealership business. The company aims to preserve liquidity and maximize stakeholder value through its remaining businesses, Vroom said in a Monday (Jan. 22) press release. This move comes after the company tried to raise additional capital and extend its vehicle floorplan facility past its current expiration date of March 31, Vroom CEO Thomas Shortt said in the release. “Despite significant efforts to do so, we ultimately wer ...