By Joe Cash and Eduardo Baptista BEIJING, Dec 1 (Reuters) - China's tightening export controls are pushing European firms to explore new supply chain capacity outside of the world's second-largest economy, a European lobbying group said ​on Monday, seeking cover from the U.S.-China trade war. The European Union Chamber of Commerce in China said one in ‌three member companies was looking to shift sourcing away from China due to Beijing's export control regime, with 40% of its flash survey's respondents re ...

Company Overview - ACV Auctions, an online used car auction platform, experienced a 35% drop in share price following disappointing third-quarter results and a weak financial outlook [1] - The company reported a GAAP loss of $0.14 per share, which was double the expected loss of $0.07 [2] - Third-quarter revenue reached $199.6 million, meeting Wall Street's expectations and reflecting a year-over-year growth of 16.5% [2] Financial Performance - The fourth-quarter revenue guidance is projected at $182 million, nearly 5% below consensus estimates [2] - Full-year EBITDA guidance of $57 million fell significantly short of the anticipated $68.56 million [2] - The combination of an earnings miss and a weaker-than-expected forecast led to a sharp sell-off in the stock [2] Market Reaction - ACV Auctions' shares are noted for their volatility, with 20 moves greater than 5% over the past year, indicating significant market impact from recent news [4] - The recent drop is considered a rare occurrence for the company, highlighting the market's altered perception of its business following the earnings report [4]