AutoWeb Shares Drop 8% After Thursday 52-Week High
January 21 2022 - 10:22AM
Dow Jones News
By Chris Wack
AutoWeb Inc. shares fell 8% to $3.27, a day after the company
said it and automotive subscription platform Autonomy would rent
cars on a short-term basis.
The company said the deal lets car shoppers on AutoWeb's
automotive web properties, including Car.com and Usedcars.com,
subscribe with Autonomy to drive a Tesla Model 3 on a
month-to-month basis after a three-month hold period.
AutoWeb shares ended Thursday's session up 12%, after hitting
their 52-week high of $4.35.
Subscriptions include routine maintenance and roadside
assistance. Consumers can customize their monthly payments to as
low as $550 a month with a $5,500 start fee, up to $1,000 per month
with a start fee as low as $1,000. A $500 security deposit is
required when the subscription is activated.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 21, 2022 11:07 ET (16:07 GMT)
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