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Vroom Prepares For Its IPO: Will It Soar like Carvana?

Vroom Prepares For Its IPO: Will It Soar like Carvana?

Like many industries during the COVID-19 pandemic, the automotive industry has been hit hard. Despite the automotive industry's pain, one bright spot has been online buying platforms, such as Carvana, which offered consumers a way to shop for vehicles from home. Vroom plans to offer 18.75 million shares of common stock and expects a price range between $15 to $17 per share, generating between $281 million to $319 million in total proceeds.