Shift Technologies downgraded on near-term challenges at Oppenheimer

Oppenheimer analyst Brian Nagel downgraded Shift Technologies to Perform from Outperform without a price target. The analyst is increasingly concerned that "rather meaningful repositioning efforts" occurring at Shift will undermine its "already-weak, sub-scale fundamentals," particularly as macro conditions for the used car space turn more challenging. Investors are best served monitoring ongoing developments at the company from the sidelines, Nagel tells investors in a research note.