The Law Offices of Frank R. Cruz Announces Investigation of CarLotz, Inc. (LOTZ) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of CarLotz, Inc. ("CarLotz" or "the Company") (NASDAQ: LOTZ) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On May 10, 2021, CarLotz announced first quarter 2021 results, reporting amongst other things, GAAP earnings per share of -$0.15, missing consensus estimates of $0.01.

On this news, CarLotz’s stock price fell $0.94 per share, or 14.44%, to close at $5.57 per share on May 11, 2021, thereby injuring investors.

Then, on May 26, 2021, CarLotz announced that its profit-sharing corporate vehicle sourcing partner had “paused consignments” to the Company. This partner accounted for more than 60% of cars sold and sourced by CarLotz.

On this news, CarLotz’s stock price fell $0.70 per share, or 13.4%, to close at $4.51 per share on May 26, 2021, thereby injuring investors further.

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If you purchased CarLotz securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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