|Company Name||CarLotz, Inc.|
On May 10, 2021, CarLotz announced first quarter 2021 results, reporting amongst other things, GAAP earnings per share of -$0.15, missing consensus estimates of $0.01.
On this news, CarLotz’s stock price fell $0.94 per share, or 14.44%, to close at $5.57 per share on May 11, 2021, thereby injuring investors.
Then, on May 26, 2021, CarLotz announced that its profit-sharing corporate vehicle sourcing partner had “paused consignments” to the Company. This partner accounted for more than 60% of cars sold and sourced by CarLotz.
On this news, CarLotz’s stock price fell $0.70 per share, or 13.4%, to close at $4.51 per share on May 26, 2021, thereby injuring investors further.
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