vroom
Wow, The online automotive retailer VROOM (VRM) has doubled it’s IPO price in a short time on the exchange. Investors are showing they aren’t afraid to bet on “future” retailers even if they aren’t yet profitable. “unlike many of the other strong IPO performers this year, Vroom opened around $39 and continued to catch a…
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It looks like VROOM will be filing for an IPO in the near future. It’s estimated they will have a valuation of $1.93 Billion while aiming to raise $300 Million in the IPO. Most automotive retailers have recently been cutting into profit margins by slashing prices to lower inventory counts. Carvana Co. [CVNA] (www.carvana.com) is…
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