This once-mighty Carvana competitor just announced it is winding down operations

Vroom Inc., once valued at a heady $2.5 billion, said Monday it is winding down its online used-car sales business in order to preserve liquidity, as its market cap has dwindled to less than$100 million. Vroom VRM, +20.28% said it would focus on growing its two remaining businesses, an auto finance company and another offering analytics and digital services for auto retail. Shares of Vroom fell more than 50% in the extended session Monday. The demise of its online used-car business didn’t appear to impact ...