Vroom (VRM) reported fourth-quarter results late Wednesday that beat revenue estimates but fell short on earnings. Vroom stock plunged.
The online dealer of used autos reported an adjusted loss of 44 cents a share on revenue of $405.8 million. Analysts expected Vroom to report a loss of 37 cents a share on revenue of $401.2 million.
Vroom stock plunged 16.8%, near 36.50, during after-hours trading on the stock market today.
Vroom is among an emerging tier of companies that have migrated the entire process of buying a used vehicle to the internet. Consumers can shop for and buy a car online, then have it delivered without ever leaving their home.
For its first quarter, Vroom expects revenue in the range of $500 to $529 million, vs. estimates of $509 million.
Vroom held its initial public offering on June 9 that raised $468 million, exceeding expectations. Vroom stock soared 117.7% on its first day of trading, closing at 47.90.
To find the other best stocks to buy or watch, check out IBD Stock Lists and other IBD research.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
YOU MAY ALSO LIKE:
Online Car Sales Hit The Road And Threaten To Upend Dealerships
Profit From Short-Term In A Swing Trading Environment
Investing in Stocks 101: The Beginning Investor’s Guide To Making More Money
Catch The Next Big Winning Stock With MarketSmith
Unlock Premium Stock Lists, Investing Tools And Analysis