The stock of Carlotz Inc (NASDAQ:LOTZ) dropped to $5.92.This company was set up 10 years ago in the Manchester neighborhood of Richmond, but its next chapter is set to be in Virginia. The new corporate headquarters will cater to the company’s needs to expand business operations.
New move to streamline operations
Carlotz’s current growth trajectory looks impressive, and it anticipates better times ahead. It considers the relocation move a step in the right direction because it will accommodate the current and the future growth it anticipates.
Achieving massive business success is a good thing, but the company is also staring at a great opportunity ahead to create more job opportunities. It continues channeling its efforts and resources in renovation undertakings and hopes to kick start operations officially towards the end of this year.
The company started its business operations as a peer-to-peer car consignment marketplace ten years ago. It targeted empowering the local communities by putting power in their hands. Job creation is part of the company’s goals in a bid to give back to society.
Time moves fast, and that is considering that the company stands tall today. It outshines rivals, becoming the biggest consignment focusing on the retailing of used vehicles. It has come a long way, and currently, it takes great pride in having opened up hubs across the country.
New headquarters to serve the company’s needs better
Analysts applaud the company’s omnichannel approach, outlining that it is quite effective in serving guests with outstanding experiences. It doesn’t matter whether they are in the hub or online, the company has been offering the best services.
The CEO of CarLotz Michael Bor recollects how the company was born in Virginia, and he is pretty excited that the new headquarters will be established in the same home state they love. Bor says that new headquarters will enable them to offer the much-needed support to team members in the various hubs countrywide.