RumbleON Shares Drop 16% After 3Q Results Missed Expectations

Dow Jones

Nov 13, 2024

By Sabela Ojea

Shares of RumbleON dropped after the online vehicle retailer logged a significantly wider-than-expected loss in the third quarter, citing challenges in the auto industry.

The stock was down 16% to $4.75 on Tuesday. Shares have climbed 35% over the past three months, but have fallen 42% since the beginning of the year.

The Irving, Texas-based company posted a quarterly loss of $11.2 million, or 32 cents a share, compared with a loss of $16.5 million, or 99 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast a narrower loss of 16 cents.

Revenue dropped 13% to $295 million, missing the $301.4 million expected by Wall Street, according to FactSet.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

November 12, 2024 13:11 ET (18:11 GMT)

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Shares have climbed 35% over the past three months, but have fallen 42% since the beginning of the year. \n</p>\n<p>\n  The Irving, Texas-based company posted a quarterly loss of $11.2 million, or 32 cents a share, compared with a loss of $16.5 million, or 99 cents a share, for the same period a year earlier. 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Shares have climbed 35% over the past three months, but have fallen 42% since the beginning of the year. \n\n\n  The Irving, Texas-based company posted a quarterly loss of $11.2 million, or 32 cents a share, compared with a loss of $16.5 million, or 99 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast a narrower loss of 16 cents. \n\n\n  Revenue dropped 13% to $295 million, missing the $301.4 million expected by Wall Street, according to FactSet. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 12, 2024 13:11 ET (18:11 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}