Vroom Soars on Its IPO. Here Are 5 Things You Need to Know About the Used Car Disruptor
After a pause during the COVID-19 lockdowns, the IPO market is heating up again, and a smashing debut from Vroom (Nasdaq: VRM) Tuesday proved investors are hungry for new issues.
Shares of the online used car seller skyrocketed on opening day, more than doubling from its $22 IPO price, reaching a valuation around $5 billion. After seeing shares of fellow online car dealer Carvana (NYSE: CVNA) soar in recent years, investors are clearly excited for Vroom to hit the market. Should you take a ride with the used car debutante? Keep reading to see five things you need to know about the company before you decide whether to buy.
Image source: Vroom.
Source Fool.com
