Shift Technologies

Shift Technologies, Inc. provides online automobile purchasing services. It also provides end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The firm operates through the following segments: Retail and Wholesale. The Retail segment represents retail sales of used vehicles through its ecommerce 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. The company was founded by Irakly George Areshidze Arison, Toby Russell and Christian Ohler in 2013 and is headquartered in San Francisco, CA.

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Shift Technologies (NASDAQ: SFT ) stock is rocketing higher despite a lack of news from the e-commerce company. There haven't been any new press releases or filings with the Securities and Exchange Commission that explain why the stock is up this morning.

Why Is Shift Technologies (SFT) Stock Up 111% Today?

NEW YORK , Oct. 12, 2023 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Shift Technologies, Inc. (NASDAQ: SFT) resulting from allegations that Shift may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Shift securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

TOP RANKED ROSEN LAW FIRM Encourages Shift Technologies, Inc. Investors to Inquire About Securities Class Action Investigation - SFT

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Shift Technologies, Inc. (NASDAQ: SFT) resulting from allegations that Shift Technologies may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Shift Technologies securities you may be entitled to compensation without payment of any out of pocket fees or costs through.

SFT LOSS ALERT: ROSEN, A LEADING LAW FIRM, Encourages Shift Technologies, Inc. Investors to Inquire About Securities Class Action Investigation – SFT

Shift Technologies (NASDAQ: SFT ) stock is crashing on Monday after the e-commerce company said it would file for Chapter 11 bankruptcy protection. According to a press release from Shift Technologies, it would use this bankruptcy filing to allow for the orderly wind-down of its business.

Why Is Shift Technologies (SFT) Stock Down 86% Today?

SAN 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 business.   To facilitate the process, the Company will utilize cash on hand and cash generated by the liquidation of inventory through wholesale channels to provide the necessary liquidity to support the wind down and closure of operations during the Chapter 11 process.

Shift Technologies, Inc. to File Voluntary Chapter 11 Petition

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Shift Tech (SFT) came out with a quarterly loss of $1.44 per share versus the Zacks Consensus Estimate of a loss of $1.85. This compares to loss of $5.90 per share a year ago.

Shift Tech (SFT) Reports Q2 Loss, Misses Revenue Estimates

Shift Technologies, Inc. (NASDAQ:SFT ) Q2 2023 Earnings Conference Call August 10, 2023 5:00 PM ET Company Participants Susan Lewis - Vice President, Investor Relations Ayman Moussa - Chief Executive Officer Oded Shein - Chief Financial Officer Conference Call Participants Operator Good afternoon and welcome to the Shift Second Quarter of 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Shift Technologies, Inc. (SFT) Q2 2023 Earnings Call Transcript

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 available on Shift's Investor Relations website.

Shift Announces Second Quarter Results

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.

Shift to Report Second Quarter 2023 Financial Results on August 10, 2023

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. The new structure is designed to improve the customer experience, increase efficiencies throughout the sales process, and better leverage our fixed costs. The Company has also decided to eliminate investment into the Company's dealer marketplace business in order to focus on core operations.

Shift Announces Restructuring to Streamline Operations and Reduce Cost Structure

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.

Shift Appoints Experienced Auto Entrepreneur Ayman Moussa as New CEO and Board Member

Shift Tech (SFT) came out with a quarterly loss of $2.15 per share versus the Zacks Consensus Estimate of a loss of $2.62. This compares to loss of $7 per share a year ago.

Shift Tech (SFT) Reports Q1 Loss, Tops Revenue Estimates

Shift Technologies, Inc. (NASDAQ:SFT ) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET Company Participants Susan Lewis - Vice President, Investor Relations Jeff Clementz - Chief Executive Officer Oded Shein - Chief Financial Officer Conference Call Participants Operator Good afternoon and welcome to the Shift First Quarter of 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Shift Technologies, Inc. (SFT) Q1 2023 Earnings Call Transcript

SAN FRANCISCO, April 20, 2023 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the first quarter 2023, which ended March 31, 2023. The conference call, hosted by management, will take place on Thursday, May 11, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results.

Shift to Report First Quarter 2023 Financial Results on May 11, 2023

Shift Technologies (NASDAQ: SFT ) stock is taking a beating on Wednesday after releasing its earnings report for the fourth quarter of 2022. The latest earnings report includes mixed results with earnings per share of -$2.56 and revenue of $65.57 million.

Why Is Shift Technologies (SFT) Stock Down 14% Today?

Shift Technologies, Inc. (NASDAQ:SFT ) Q4 2022 Earnings Conference Call March 28, 2023 5:00 PM ET Company Participants Susan Lewis - VP, IR Jeffrey Clementz - CEO & Director Oded Shein - CFO Conference Call Participants Richard Reid - Wells Fargo Securities Michael Baker - D.A. Davidson & Co. Marvin Fong - BTIG Operator Good day, and welcome to the Shift Technologies, Inc. Fourth Quarter 2022 Earnings Conference Call.

Shift Technologies, Inc. (SFT) Q4 2022 Earnings Call Transcript

Shift Tech (SFT) delivered earnings and revenue surprises of 28.01% and 19.33%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Shift Tech (SFT) Reports Q4 Loss, Lags Revenue Estimates

SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that on March 22, 2023, the Company received formal notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that Shift has evidenced compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule5550(a)(2). The notice indicated that as a result of the closing bid price of the Company's common stock having been at least $1.00 per share for a minimum of 10 consecutive business days, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and advised that this matter is now closed.

Shift Announces Regaining Compliance with Nasdaq Listing Requirement

SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported fourth quarter financial results for the period ended December 31, 2022. Management's commentary on fourth quarter financial results and outlook for the first quarter 2023 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 available on Shift's Investor Relations website.

Shift Announces Fourth Quarter Results

Shift Tech (SFT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Shift Tech (SFT) Expected to Beat Earnings Estimates: Should You Buy?

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SAN FRANCISCO, March 09, 2023 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the fourth quarter 2022, which ended December 31, 2022. The conference call, hosted by management, will take place on Tuesday, March 28, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results.

Shift to Report Fourth Quarter 2022 Financial Results on March 28, 2023

SAN FRANCISCO, March 07, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT) (the “Company” or “Shift”), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will effect a 1-for-10 reverse stock split (“reverse split”) of its Class A common stock, par value $0.0001 per share (“common stock”), that will become effective on March 8, 2023, at 12:01 a.m., Eastern Time. Shift's common stock will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the symbol “SFT” and will begin trading on a split-adjusted basis when the market opens on March 8, 2023. The new CUSIP number for the Common Stock following the reverse split will be 82452T 305.

News for Shift Technologies Stock (SFT)