HyreCar jumps as it narrows Q2 revenue forecast on strong performance

HC Liquidating

12/07/2022 12:35

** Shares of carsharing marketplace HyreCar Inc  HYRE.O 
rise 14% to $0.87 premarket
    ** Narrows Q2 net revenue forecast to between $10.4 mln and
$10.6 mln from previous forecast of $10.2 mln and $10.7 mln,
citing strong performance in the quarter
    ** HYRE says demand continued to increase compared to the
prior quarter despite record high gas prices
    ** Co says it believes its focus on gig rentals insulated
utilization and spurred driver demand amid increasing inflation
and recessionary pressure
    ** Up to last close, stock had fallen ~84% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))