Microsoft Corp. Stock Falls Wednesday, Underperforms Market

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.

Microsoft Corp. Stock Falls Wednesday, Underperforms Market

4:32 pm ET May 11, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Microsoft Corp. (MSFT) shed 3.32% to $260.55 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 1.65% to 3,935.18 and Dow Jones Industrial Average falling 1.02% to 31,834.11. Microsoft Corp. closed $89.12 below its 52-week high ($349.67), which the company achieved on November 22nd.

The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Apple Inc. (AAPL) fell 5.18% to $146.50, Alphabet Inc. Cl A (GOOGL) fell 0.69% to $2,272.05, and SAP SE ADR (SAP.XE) fell 1.28% to $95.59. Trading volume (44.3 M) eclipsed its 50-day average volume of 32.5 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 11, 2022.

(END) Dow Jones Newswires

May 11, 2022 16:32 ET (20:32 GMT)