HyreCar Inc: Tumbles on bigger-than-expected Q3 loss, revenue miss

HC Liquidating

06/11/2019 15:16

** Shares of peer-to-peer car-sharing platform  HYRE.O  down
~12% at $2.24 on dismal Q3 results 
    ** If losses hold, stock set for its worst day in over two
months 
    ** HYRE posts bigger-than-expected loss for the second
straight qtr; Q3 rev. also falls short of est. 
    ** Company hit by ~87% jump in operating expenses on higher
staffing and marketing costs and insurance claim payments
 urn:newsml:reuters.com:*:nBw74tGzTa  
    ** Separately, HYRE also files for mixed-shelf offering of
$25 mln  urn:newsml:reuters.com:*:nFWN27M0L2
    ** Stock among worst performers across U.S. exchanges 
    ** Including session's losses, stock down ~17% YTD

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))