Leadership StabilityRumbleOn has had four CEOs in the past year and a half, indicating instability in leadership.
Sales PerformanceTotal Powersports vehicle unit sales of 15,348 missed the estimate of 15,796 units and represented a year-over-year decline of about 13%.
Stock ValuationEquity dilution from the transaction and a slightly lower AEBITDA target multiple contribute to the lowering of the price target from $7 to $6.