Why Cazoo Shares Are Popping Off Today

Why Cazoo Shares Are Popping Off Today

Cazoo Group Ltd CZOO shares are trading higher by 14.77% to $0.70 Thursday morning. The company announced it will wind down operations in mainland Europe to focus on core UK market.

Cazoo says the plan to withdraw from the EU is based on the material further investment that would be required for Cazoo to continue to scale its operations in the EU and the conflict this has with the company's priorities of cash conservation and achieving profitability without the need for additional capital.

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According to data from Benzinga Pro, Cazoo has a 52-week high of $10.13 and a 52-week low of $0.45.

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