Why Is Everyone Talking About Cazoo Stock?
The automotive e-commerce boom isn't limited to the U.S., as U.K.-based Cazoo (NYSE: CZOO) seeks to transform the European car buying and selling experience. However, the same problems besetting the U.S. in 2022, such as high inflation and recession worries, have undoubtedly induced anxiety in the European car-buying demographic as well.
Given these challenges, Cazoo's quest to capture an addressable European used vehicle market worth over 100 billion pounds has been much easier said than done. Cazoo's difficulty in turning a profit seems to be reflected in the share price, which has tumbled into penny stock territory during the past year.
Yet, even troubled stocks are capable of staging outsized rallies under the right conditions. Thus, the persistent downtrend in Cazoo stock was broken for at least one spectacular day -- but cautious investors should consider the totality of the available data before taking a ride with Cazoo now.
Source Fool.com
