tiprankstipranks
B. Riley ‘defending’ RumbleOn after Polaris Xchange launch
The Fly

B. Riley ‘defending’ RumbleOn after Polaris Xchange launch

B. Riley analyst Eric Wold is "defending" shares of RumbleOn (RMBL) after what the firm believes is a "misunderstanding and overreaction" to the launch of the Polaris Xchange Marketplace by Polaris Industries (PII), RumbleOn’s largest powersports partner. The analyst does not view the launch as a competitive threat to RumbleOn or the other 2,400 independent dealers in North America, but as a platform for Polaris to improve the overall customer buying experience and drive incremental traffic and boost overall powersports sales for its dealers. The firm continues to believe RumbleON is positioned to benefit from "resilient" demand and multiple organic growth opportunities in 2023. It reiterates a Buy rating on the stock with a $15 price target.

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on RMBL:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles