SFT stock rose higher on November 25, 2020, in the wake of acquisitions in Texas.
Leading used car ecommerce platform Shift (NASDAQ: SFT) has announced the launch of its third consumer car-selling service in Texas with the addition of Fort Worth. After launching select vehicle acquisitions in the central-southwestern markets of Austin and San Antonio in the last couple of weeks, Shift is now launched in a new region, bringing its seller service to the northern-eastern corner of the state.
“Fort Worth is a major thoroughfare in the state, and a huge opportunity for Shift to continue to expand in the Texas geography,” commented Shift Co-CEO Toby Russell. “We’re thrilled to be taking this next step and bring our service to more and more consumers across the state.”
Shift’s seller service will be available to consumers within the greater Fort Worth region. With this launch, consumers can begin getting online quotes for their cars through the shift.com website, generating an instant estimate. Those who wish to move forward with an evaluation can then book an appointment, and a Shift Concierge will come to their location to evaluate the car, and make a final offer. If they accept, they’ll complete the entire transaction on the spot through an iPad, and receive payment digital within a few days. Appointments take approximately one hour.
Shift is a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. Shift’s mission is to make car purchase and ownership simple — to make buying or selling a used car fun, fair, and accessible to everyone. Shift provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive brought to you before buying the car, a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership.
Shift (NASDAQ: SFT) announced both completed and intended purchases of SFT Class A common stock on the open market by certain executives and board members: Co-Founder and Co-CEO George Arison; Chief Operating Officer Sean Foy; Chief Revenue Officer Mark McCollum; and Board Member and Audit Committee Chair Victoria McInnis.
“Our decision to purchase shares on the open market reflects our continued confidence and excitement about Shift’s opportunity in the $840 billion used car market,” commented Arison. “We have a tremendous opportunity before us, as we continue to offer our customers one of the best used car buying experiences available anywhere. Shift‘s business continues to grow, and our announced initiatives should create increasing long-term shareholder value.”
To get these stocks much faster (real-time) with alerts, check out the tool we use here. There’s nothing like it on the market.