Why RumbleON's Stock Is Trading Higher Today

RumbleON (NASDAQ: RMBL) shares are trading higher on Friday after the company announced a dealer-centric pilot program with CarGurus.

RumbleON is a U.S.-based online retailer that allows both consumers and dealers to Buy-Sell-Trade-Finance pre-owned motorcycles in an efficient, fast, transparent, and engaging experience. The groups objective is to minimize the number of required actions by the customer, all while providing complete visibility and transparency. Its segments include powersports, automotive and vehicle logistics and transportation.

Powersports and automotive segments consist of the distribution of pre-owned vehicles. The Powersports segment consists of the distribution of motorcycles, while the automotive segment distributes cars and trucks. Vehicle Logistics and transportation service segment offers nationwide automotive transportation services between dealerships and auctions.

RumbleON shares were trading up 92% at $20.65 during the time of publication on Friday. The stock has a 52-week high of $104.60 and a 52-week low of $3.