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Shift Technologies Inc   (NASDAQ: SFT)
Other Ticker:  
 
    Sector • Retail    Industry • Automotive Aftermarket
   Industry • Automotive Aftermarket
   Sector • Retail
 
Price: $0.0000 $0.00 %
Day's High: 0.00 Week Perf:
Day's Low: $ 0.00 30 Day Perf:
Volume (M): 0 52 Wk High: $ 0.00
Volume (M$): $ 0 52 Wk Avg: $0.00
Open: $0.00 52 Wk Low: $0.00



 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) 17
 Employees 200
 Revenues (TTM) (Millions $) 329
 Net Income (TTM) (Millions $) -137
 Cash Flow (TTM) (Millions $) -68
 Capital Exp. (TTM) (Millions $) 10

Shift Technologies Inc
Shift Technologies Inc, founded in 2013, is an online marketplace that enables its users to buy and sell used cars from the comfort of their homes. The company is headquartered in San Francisco, California, and operates in several major metropolitan areas, including Los Angeles, San Diego, and Washington DC.

Shift functions as a fully remote company and competes with other online used-car marketplaces such as Carvana and Vroom. One of the unique features is that Shift sends a car to a prospective buyer's home, allowing the shopper to test drive the vehicle at their leisure.

The company is backed by a range of investors, including Goldman Sachs and DCM Ventures, and has raised over $300 million in funding to date. In January 2021, it announced that it would merge with Insurance Acquisition Corp, with the aim of becoming a publicly-traded company on the NASDAQ.

Shift prides itself on offering a hassle-free car-selling experience for sellers, complete with a professional inspection before the vehicle is listed for sale on its website. The company also provides financing options to help buyers purchase vehicles and offers warranties for certain cars, making it a one-stop-shop for both buyers and sellers.

Overall, Shift Technologies Inc aims to disrupt the traditional car-buying and selling process by providing a more accessible, convenient, and transparent solution for users.


   Company Address: 290 Division Street San Francisco 94103 CA
   Company Phone Number: 575-6739   Stock Exchange / Ticker: NASDAQ SFT


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AN        6.09% 
CVNA   -7.12%    
KMX        2.25% 
PAG   -0.21%    
VRM        10.25% 
ACVA   -1.26%    
• View Complete Report
   



Shift Technologies Inc

Shift Technologies Inc Faces Financial Turmoil in Q2 2023 - Can it Bounce Back?



The stock market often experiences ups and downs, with companies occasionally facing challenging financial periods. One such example is Shift Technologies Inc, which recently reported disappointing second-quarter results for 2023. However, while these figures may initially raise concerns, a deeper analysis reveals potential opportunities for positive growth and recovery. Let's explore the situation and shed light on the company's future prospects.
Revenue and Net Deficit:
Shift Technologies Inc faced a significant setback in the second quarter of 2023, as its revenue declined by a staggering -78.943% to $47.11 million. Furthermore, the net deficit per share extended to $-1.52, compared to $-2.84 per share in the same period last year. While this news might seem discouraging, it is essential to look at the broader picture.
Shift Technologies Inc

Shift Technologies Inc Battles Drastic 75.358% Revenue Plunge and Soaring Net Loss in Q1 2023, Raising Alarm for Future Sustainability

The automotive aftermarket industry can be a challenging one, as Shift Technologies Inc has found out in their most recent fiscal period. The company has reported a disastrous performance, with revenue falling by a staggering 75.358% to $54.11 million compared to the same period a year prior. This was a significant drop from the previous reporting period when revenue fell by 17.482% from $65.57 million.
Net loss per share has also extended to $-2.84, a vast difference from the previous reporting period when it was $0.16 per share. As a result, the company has reported a net shortfall of $-48.097 million, although this was an improvement from the deficit of $-57.048 million from the same reporting period a year ago.









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