VRM Stock Alert: Once-Hot Vroom Is Winding Down Operations

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 ...