Top Stock Movers: VRM, DM, GDRX
2:09 pm Tuesday, May 10th, 2022
Vroom (NASDAQ:VRM) is riding high today after reporting positive quarterly earnings. Indeed, the used-car rush has created some new winners in the automotive sector, including this digital New York-based car retailer. Earlier today, VRM stock skyrocketed after its first-quarter earnings exceeded Wall Street expectations. While shares have come down since this morning’s spike, the company is worth a closer look. This morning’s surge earned VRM stock a place among Wall Street’s top pre-market gainers, spiking more than 55%. However, that early trading high seems to have been the peak.
Desktop Metal (NYSE:DM) stock is falling hard on Tuesday following the release of the 3D printing company’s earnings report for the first quarter of 2022. The bad news for DM stock begins with the company’s adjusted earnings per share of -22 cents. While that’s an improvement over the -25 cents reported in Q1 2021, it fails to meet the -13 cents per share that Wall Street was expecting. However, the company’s revenue of $43.7 million was able to surpass the $41.61 million that analysts were looking for. It’s also a 286% increase compared to the $11.31 million reported during the same period of the year prior.
GoodRx (NASDAQ:GDRX) stock is slipping on Tuesday despite the healthcare company beating out estimates for the first quarter of 2022. So what’s keeping the shares down today? First, let’s go over the company’s earnings report. It starts with adjusted earnings per share of 10 cents. That’s better than the 8 cents per share that Wall Street was expecting. It’s also an improvement over the 7 cents per share reported in Q1 2021. Next up is GoodRx’s revenue of $203.33 million. This is another positive for the company next to analysts’ revenue estimate of $200.63 million. It also represents a 27% year-over-year increase compared to $160.4 million.
