Shift Technologies Inc
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Consumer Discretionary : Specialty Retail | Small Cap Blend
Company profile

Shift Technologies, Inc. is an end-to-end e-commerce platform transforming the used car industry with a technology-driven customer experience. Its segments include Retail and Wholesale. The Retail segment represents retail sales of used vehicles through the Company's e-commerce platform and fees earned on sales of value-added products associated with those vehicles sales, such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plans. The Wholesale segment represents sales of used vehicles through wholesale auctions or directly to a wholesaler (DTW). It provides technology-driven solutions throughout the car ownership lifecycle. It operates approximately nine vehicle inventory inspection, reconditioning and storage centers, with six spanning the West Coast from San Diego to Seattle and three new facilities in Austin, San Antonio and Dallas, Texas. It conducts its business through its wholly owned subsidiaries.

Closing Price
Day's Change
0.1945 (28.90%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Legal cannabis sales exceed Starbucks N. America sales in 2021: Report

10:27 am ET May 4, 2022 (MarketWatch)

Legal adult use and medical cannabis sales in 2021 topped $24.5 billion, which outpaced the North American sales total of $20.5 billion for Starbucks Corp. (SBUX), according to the MJBiz Factbook released Wednesday. Revenue growth of 30% in the cannabis business also outpaced the 25% growth by Starbucks, the study said. Cannabis sales managed the total with legal business in 39 states and the District of Columbia, compared to sales in all 50 states for Starbucks. By contrast 2021 U.S. cigarettes sales totaled $52.8 billion and global opioid sales amounted to $23.2 billion in 2021. The AdvisorShares Pure US Cannabis ETF (MSOS) is down 2.5% on Wednesday and has lost 43.4% so far in 2022, compared to a 20.6% drop by the Nasdaq .

-Steve Gelsi


(END) Dow Jones Newswires

May 04, 2022 10:27 ET (14:27 GMT)

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