The filing brings an end to a company that shares a business model with another struggling retailer.

Shift Stores and Website are Closed as Wind Down CommencesSAN FRANCISCO, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a consumer-centric omnichannel retailer for buying and selling used cars, today announced that it and its subsidiaries (collectively, “the Company”) intend to file a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court (“the Court”) to implement an orderly wind down of its busi

Some of the most speculative ideas are the targeted short-squeeze stocks. To better understand what’s going on, it’s helpful to think of a timed chess match. If you have all day to think about your next move, you will be less likely to blunder your pieces. However, when you have only five minutes in the match, you need to think fast, which then accelerates the possibility of error (both for you and your opponent). Similarly, short-squeeze stocks are all about pressure. While the bears may be hea

Before jumping into which auto stocks investors should consider buying let’s look at the numbers surrounding affordability. The numbers are pretty shocking, frankly. In June the average price paid for a new car was $48,808. The positive news is that the average price fell since the beginning of the year. The bad news is that Cox Automotive’s vehicle affordability index remains extraordinarily high relative to levels over the past decade. The median consumer now requires 43 weeks of income to pur

Q2 2023 Shift Technologies Inc Earnings Call

SAN FRANCISCO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT) (“Shift” or the “Company”), a consumer-centric omnichannel retailer for buying and selling used cars, today reported second quarter financial results for the period ended June 30, 2023. Management’s commentary on second quarter financial results can be found by accessing the Company’s prepared remarks on investors.shift.com, or by listening to today’s conference call. A live audio webcast will also be availab

SAN FRANCISCO, July 20, 2023 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a consumer-centric omnichannel retailer for buying and selling used cars, announced today that it will report its financial results for the second quarter 2023, which ended June 30, 2023. The conference call, hosted by management, will take place on Thursday, August 10, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company’s business and financial results. What: Shift Second Quarter 2023 Earnings Conference CallWhen:

SAN FRANCISCO, July 11, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a consumer-centric omnichannel used auto retailer, today announced a plan to restructure and reduce the Company’s workforce to better align people and responsibilities with the Company’s omnichannel sales strategy. The restructuring plan is the result of a review by the Company’s recently appointed CEO Ayman Moussa as well as evaluations conducted as part of the Company’s review of strategic alternatives. Th

SAN FRANCISCO, June 09, 2023 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT) today announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023. Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over $200 million in annual reve

Q1 2023 Shift Technologies Inc Earnings Call