Penny stocks are wildly risky and by definition, TrueCar (TRUE) falls under the extremely speculative category. An online automotive information and communications platform, TrueCar enables users to obtain market-based pricing data on new and used cars. It’s a nifty tool but one that has clearly fallen prey to the rough business environment of the post-pandemic era.
There’s no denying that TRUE stock is ugly by practically any measure. Most conspicuously, the equity is trading hands at less than two bucks a pop, an ignominious label. Further, on a year-to-date basis, TRUE has hemorrhaged nearly 58% of value. About the only piece of good news is that in the past five sessions, it managed to gain 19%.
