JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
In recent trading activity, Mudrick Capital Management, L.P., a significant stakeholder in Vroom (OTC:VRMMQ), Inc. (NASDAQ:VRM), acquired common stock worth $102,532. The purchases occurred over two days, with shares acquired at prices ranging from $27.999 to $28.00 per share. According to InvestingPro data, these transactions occurred as VRM trades near $27, with the stock showing significant volatility and a market capitalization of approximately $145 million.
On June 10, Mudrick Capital purchased 13 shares at a price of $28.00 each. The following day, June 11, the firm acquired an additional 3,649 shares, with prices fluctuating between $27.90 and $28.00. The transactions increased Mudrick Capital’s total ownership to 3,967,251 shares. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 6.48, though it’s currently experiencing rapid cash burn.
Additionally, on June 12, Matthew Pietroforte, a director at Vroom and a Managing Director at Mudrick Capital, was granted 3,796 restricted stock units (RSUs) under Vroom’s 2020 Incentive Award Plan. These RSUs were assigned to Mudrick Capital Management, L.P. and are set to vest on the earlier of the day before the next annual stockholders’ meeting or June 12, 2026, subject to Pietroforte’s service on the board. InvestingPro subscribers can access 8 additional key insights about VRM’s financial health and future prospects.
In other recent news, Vroom, Inc. has released unaudited pro forma consolidated financial information following its reorganization plan and adoption of fresh start accounting. This reorganization, effective since January 14, 2025, marks a significant change in the company’s capital structure and valuation of assets and liabilities. The financial details, available in the company’s SEC filings, provide stakeholders with an updated view of Vroom’s financial health. Additionally, Vroom has amended its existing credit facility, reducing its borrowing capacity from $225 million to $200 million while extending the maturity date to April 2027. This financial restructuring retains most of the original terms and reflects the company’s strategic adjustments in the competitive auto retail market.
Furthermore, Vroom has announced the appointment of Nikul Patel to its Board of Directors. Patel will participate in the company’s standard compensation program for non-employee directors, which includes cash retainers and equity grants. There are no disclosed arrangements or transactions between Patel and Vroom that require further SEC disclosure. These developments highlight Vroom’s ongoing efforts to strengthen its leadership and financial position.
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