International Business Machines Corp. Stock Falls Thursday, 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.

International Business Machines Corp. Stock Falls Thursday, Underperforms Market

4:59 pm ET May 19, 2022 (MarketWatch) Print

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

Shares of International Business Machines Corp. (IBM) shed 2.47% to $129.66 Thursday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index falling 0.58% to 3,900.79 and Dow Jones Industrial Average falling 0.75% to 31,253.13. This was the stock's second consecutive day of losses. International Business Machines Corp. closed $16.33 short of its 52-week high ($145.99), which the company achieved on June 10th.

The stock underperformed when compared to some of its competitors Thursday, as Apple Inc. (AAPL) fell 2.46% to $137.35, Microsoft Corp. (MSFT) fell 0.37% to $253.14, and Alphabet Inc. Cl A (GOOGL) fell 1.35% to $2,207.68. Trading volume (5.8 M) eclipsed its 50-day average volume of 5.0 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 19, 2022.

(END) Dow Jones Newswires

May 19, 2022 16:59 ET (20:59 GMT)