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RumbleOn (NASDAQ: RMBL), the e-commerce company that claims to simplify how dealers and consumers buy, sell, trade or finance pre-owned vehicles, today announced financial results -ma net loss of -$22 million for the three months ended March 31, 2020. This calculates to a net loss per share was of -$10.77 for the stock that is touted by some traders as disruptive of the dealership centered automotive universe. RMBL is currently trading at ~$9:70/share. Even disruptive tech companies though are vulnerable to the harsh realities of the ongoing and spreading Covid 19 pandemic in the U.S. (RumbleOn Posts 2019 Loss. Cancels Guidance)
Theories in business, science, politics and life can be crude or elegant, but they are subject to correction or questioning by data. The e-commerce RumbleOn touts using innovative technology to simplify how dealers and consumers buy, sell, trade or finance used vehicles. As such, it’s one of a growing number of companies that were catching analyst and day trader enthusiasm because they are “disruptive” to the ruling business order.
Well, so is COVID-19, which is ideologically atheistic about class, party, economic theories and Wall Street fads. The question here goes far beyond RumbleOn’s strategy and management to the still unknown COVID-19 plague effects going forward. This is a stock for the brave…(AutoInformed has no position in the stock)
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COVID Casualty – Woodward Dream Cruise
“In 1968, I bought a new car and the payments – over $100 a month were killing me. So in 1969 I paid $1700 for a used GTO, and all my friends thought I was crazy – paid too much for it,” Haskell beamed.
The latest victim of the spreading Covid-19 plague in the US is the Woodward Dream Cruise, which was cancelled yesterday after a Zoom meeting of the town officials of the nine cities that are invaded each year along the Woodward Avenue route. Previously the organizers in April and May were in denial of the gravity of the Covid threat not unlike the hapless Trump Administration. (Dream Cruise Delights – Power to The People)
The real public health question remains what will the estimated crowd of 1-2 million enthusiasts of the car culture do during the week ending with the main event on August 15 this year? Woodward Avenue – a state highway – cannot be shut down, barring emergency action from Governor Gretchen Whitmer, whose office did not respond to AutoInformed.
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