BREAKING
Earnings Summary: Zymeworks (ZYME) Q4 FY25 net loss widens 12 hours ago Earnings Summary: A snapshot of Smith+Nephew’s (SNN) Q4 2025 report 13 hours ago Earnings Summary: Norwegian Cruise Line (NCLH) Q4 FY25 revenue rises 6% 14 hours ago Earnings Summary: Highlights of Calumet’s (CLMT) Q4 2025 earnings report 4 days ago Zoom Communications Q4 2025 Earnings Results 4 days ago Agilent Q1 Revenue Rises 7%, Net Income Declines 5 days ago Synopsys Q1 2026 Earnings Results 5 days ago Key highlights from J.M. Smucker’s (SJM) Q3 2026 earnings results 5 days ago Hormel Foods (HRL) Q1 2026 Earnings: Key financials and quarterly highlights 5 days ago Key metrics from Lowe’s (LOW) Q4 2025 earnings results 6 days ago Earnings Summary: Zymeworks (ZYME) Q4 FY25 net loss widens 12 hours ago Earnings Summary: A snapshot of Smith+Nephew’s (SNN) Q4 2025 report 13 hours ago Earnings Summary: Norwegian Cruise Line (NCLH) Q4 FY25 revenue rises 6% 14 hours ago Earnings Summary: Highlights of Calumet’s (CLMT) Q4 2025 earnings report 4 days ago Zoom Communications Q4 2025 Earnings Results 4 days ago Agilent Q1 Revenue Rises 7%, Net Income Declines 5 days ago Synopsys Q1 2026 Earnings Results 5 days ago Key highlights from J.M. Smucker’s (SJM) Q3 2026 earnings results 5 days ago Hormel Foods (HRL) Q1 2026 Earnings: Key financials and quarterly highlights 5 days ago Key metrics from Lowe’s (LOW) Q4 2025 earnings results 6 days ago
ADVERTISEMENT
Market News

DropCar crashes 30% on offering announcement

Shares of DropCar (DCAR), which offers an automated platform for pick-up and delivery of vehicles for maintenance and service, saw its stock slide over 30% on Wednesday. The sell-off was spurred by investors who panicked after the company said in an SEC filing that it would issue and sell 478,469 shares of its common stock, […]

March 27, 2019 2 min read
Market News
“

Shares of DropCar (DCAR), which offers an automated platform for pick-up and delivery of vehicles for maintenance and service, saw its stock slide over 30% on Wednesday. The sell-off was spurred by investors who panicked after the company said in an SEC filing that it would issue and sell 478,469 shares of its common stock, […]

· March 27, 2019

Shares of DropCar (DCAR), which offers an automated platform for pick-up and delivery of vehicles for maintenance and service, saw its stock slide over 30% on Wednesday. The sell-off was spurred by investors who panicked after the company said in an SEC filing that it would issue and sell 478,469 shares of its common stock, par value $0.0001 per share, at an offering price of $4.18 per share for gross proceeds of about $2 million.

DCAR stock has more-than-tripled so far this year. This comes as a slight respite after the stock lost 65% of its value in trailing 52 weeks.

The New York City-based firm grew its top line by 405% last year, but many investors are reluctant to bet on this stock that been seeing mounting losses. Meanwhile, bullish investors expect the company to rebound once ride-hailing service Lyft goes public next month.

drop car stock tumble
Photo by Andre Iv on Unsplash

READ: BMW’S PROFIT WARNING SENDS SHOCKWAVES THROUGH THE US AUTO INDUSTRY

Earlier this month, CEO Spencer Richardson had announced that the company was exploring strategic alternatives, including a potential sale to maximize shareholder value. A stock sale is also likely to lift DropCar’s stock in the coming months.

ADVERTISEMENT

On March 8, the company launched a 1:6 reverse stock split after its share price fell below $1, to regain Nasdaq compliance.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

ADVERTISEMENT

Related Articles