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.

Earnings data Q2 2023

Earnings data Q2 2024

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SAN FRANCISCO, May 26, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today announced that senior management will participate in the following upcoming investor conferences:

Shift to Participate at Upcoming Investor Conferences

In my opinion, Shift is being priced for an imminent bankruptcy, with the used auto e-commerce platform's stock trading at ~1x cash levels. While Shift's liquidity situation remains challenging, the business is performing within management's guideposts, and the outlook for 2022 remains unchanged despite macro challenges.

Shift: The Clock Is Ticking. Going Bankrupt, Or To The Moon?

SAN FRANCISCO, May 12, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, has closed its acquisition of certain assets of Fair Financial Corp. and certain of its subsidiaries (“Fair”) and the acquisition of the equity interests of a subsidiary of Fair. Concurrently with the closing of the Fair acquisition, Shift also closed the issuance of senior unsecured notes to an affiliate of SoftBank Group Corp. (“SoftBank Group”).

Shift Closes Acquisition of Fair's Dealer Listing Marketplace Technology

Shift Technologies, Inc. (NASDAQ:SFT ) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Henry Bird - Vice President, Strategy George Arison - Co-Founder & Chief Executive Officer Oded Shein - Chief Financial Officer Conference Call Participants Naved Khan - Truist Sharon Zackfia - William Blair Seth Basham - Wedbush Operator Hello. Thank you for standing by, and welcome to Shift Technologies First Quarter 2022 Earnings Conference Call.

Shift Technologies, Inc. (SFT) CEO George Arison on Q1 2022 Results - Earnings Call Transcript

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SAN FRANCISCO, April 08, 2022 (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 2022, which ended March 31, 2022. The conference call, hosted by management, will take place on Tuesday, May 10, 2022 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 2022 Financial Results on May 10, 2022

On 15th March, Shift delivered another record-breaking quarterly report with Q4 2021 sales and margins coming ahead of guidance.

Shift Q4 Review: I Am More Bullish Than Ever

Shift Technologies, Inc. (SFT) CEO George Arison on Q4 2021 Results - Earnings Call Transcript

Shift Tech (SFT) delivered earnings and revenue surprises of -12.70% and 6.44%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

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

SAN FRANCISCO, March 15, 2022 (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, has entered a definitive agreement to acquire certain assets of Fair Technologies (“Fair”) for a combination of cash and shares of Shift's Class A common stock.

Shift to Acquire Fair's Dealer Listing Marketplace Technology, Team to Expand E-commerce Auto Platform; SoftBank Group to Fully Fund Acquisition

SAN FRANCISCO, March 15, 2022 (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, 2021. Management's commentary on fourth quarter financial results and first quarter and full year 2022 outlook can be found by accessing the Company's shareholder letter 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 Grows Revenue 167% in Q4'2021; Strong Guidance for 2022 Reflects Continued Rapid Growth with Significant Operational Efficiencies

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Shift Tech (SFT) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

After Plunging 36.5% in 4 Weeks, Here's Why the Trend Might Reverse for Shift Tech (SFT)

SAN FRANCISCO, Jan. 21, 2022 /PRNewswire/ -- Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, will host its first-ever branded pop up event, Car to Cash, to acquire cars in the Los Angeles market. "Now more than ever, there is an incredible demand for used vehicles, especially as new cars have been increasingly difficult to come by," said Jeff Clementz, Shift's President.

Shift to Host Its First-Ever Pop Up, Car to Cash, in Los Angeles

In today's note, we will discuss Shift's latest quarterly report, in which the company grew at 200% y/y. The violent sell-off in growth stocks has left Shift trading below 1x of the cash on its balance sheet. It is fair to say, Shift is now in deep-value territory.

Shift Is Now A Deep Value Play

Inflation is hitting multi-decade highs, causing investor panic in equity markets. Although broader indices do not reflect this panic, several growth stocks are down ~40-80% from their highs. After a violent valuation reset in the growth stock universe, long-term investors are operating in a fearful market environment with generational opportunities abound.

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Shift Technologies Inc (NASDAQ: SFT) announced a $100 million committed floorplan facility with Ally Financial Inc (NYSE: ALLY), a digital financial services company.  The new floorplan financing has a two-year term, expiring December 9, 2023.

Shift Technologies Enters $100M Floorplan Facility With Ally Financial

SAN FRANCISCO, Dec. 13, 2021 (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 a $100 million committed floorplan facility with Ally Financial Inc. (NYSE:ALLY), a leading digital financial services company. The new floorplan financing relationship expands the companies' business relationship and has a two-year term, expiring December 9, 2023.

Shift Technologies Announces New $100 million Floorplan Facility

Investors need to pay close attention to Shift Technologies (SFT) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Shift Technologies (SFT) Stock?

Shift Technologies reported strong Q3 earnings results.

What Happened To Shift Technologies

SAN FRANCISCO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today announced that senior management will present to the investor community at the following upcoming investor conference:

Shift to Present at Upcoming Investor Conference

Shift Technologies, Inc. (SFT) CEO George Arison on Q3 2021 Earnings Conference Call - Earning Call Transcript

SAN FRANCISCO, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported third quarter financial results for the period ended September 30, 2021. Management's commentary on third quarter financial results and fourth quarter and full year 2021 outlook can be found by accessing the Company's shareholder letter 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.

News for Shift Technologies Stock (SFT)