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
$0.8676
Day's Change
0.1945 (28.90%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.91
Day's Low
0.70
Volume
(Heavy Day)
Volume:
12,216,946

10-day average volume:
9,441,554
12,216,946

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Twitter, Inc. - TWTR

3:22 pm ET May 19, 2022 (Newsfile) Print

New York, New York--(Newsfile Corp. - May 19, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Twitter, Inc. ("Twitter" or the "Company") (NYSE: TWTR). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Twitter and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On April 4, 2022, Elon Musk ("Musk") disclosed in a U.S. Securities and Exchange Commission ("SEC") filing that he owned 9.2% of Twitter stock. On this news, Twitter's stock price rose $10.66 per share, or 27.12%, to close at $49.97 per share on April 4, 2022.

Then, on April 5, 2022, in another SEC filing, Musk disclosed that he had purchased more than 5% of Twitter stock on March 14, 2022, which, per applicable SEC rules, should have been disclosed by March 24, 2022. The same April 5, 2022 filing also indicated that Musk had acquired approximately 13.1 million Twitter shares at an average price of $39.06 per share after March 24, 2022, and before Twitter's stock price rose to $49.97 per share on April 4, 2022, thereby potentially saving him millions of dollars at the expense of other investors that could have sold their Twitter stock at a higher price, had they been similarly and timely informed of Musk's large stake in the Company.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com

888-476-6529 ext. 7980

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124687

comtex tracking

COMTEX_407470249/2523/2022-05-19T15:22:34

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