Why Is Vroom (VRM) Stock Down 44% Today?

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 ...