The merger will bring together the best, most profitable assets from each company, consolidating Shift’s proprietary acquisition engine, best-in-class technology platform, and strong presence on the West Coast with CarLotz’s unique consignment relationships and prime retail locations in the mid-Atlantic region. Shift announced today it has entered into a definitive agreement to merge with CarLotz (Nasdaq: LOTZ), a leading used vehicle consignment business, in a stock-for-stock merger. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, announced today several business updates. 09, 2022 (GLOBE NEWSWIRE) - Shift Technologies, Inc. Current Shift President Jeff Clementz to serve as CEO effective September 1.Updated financial model enables positive unit economics in 2023 and company-wide profitability in 2024.Shift is transitioning to a new business plan focused on transacting most sales through its most profitable online checkout channel, which allows consumers to purchase a vehicle online, sight unseen, for pickup or delivery.Shift to merge with CarLotz, a leading used vehicle consignment business combined company estimated to have approximately $125 million of cash if the merger closes at the end of the year.MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data. MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to. Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. 7 Stagflation Stocks to Help Navigate Periods of Low Growth.7 Commodities ETFs to Help Build a Hedge Against Inflation.7 Dividend Stocks That Earn 10% Every Month.7 Dividend Aristocrats to Help You Take the Bite Out of the Bear.10 Recession-Proof Stocks That Will Let You Wait Out the Bear.7 Stocks with the Pricing Power to Push Through High Inflation.7 Blue-Chip Dividend Stocks That Won’t be Impacted by Rising Interest Rates.7 Mid-Cap Stocks That Can be the Perfect Fit at Any Time.7 Stocks to Buy to Outrun Rising Interest Rates.7 Sports Betting Stocks to Buy for Their Long-Term Possibilities.7 Water Stocks to Buy as the World Dries Up.Chargepoint Rallies, Despite Weaker Earnings.Can Pinterest Rally On Support From Big Investor With Conviction?.PVH Corporation Is On Track For Capital Returns.
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