Why Shares of Cazoo Are Rising Today

Why Shares of Cazoo Are Rising Today

Shares of online used car company Cazoo Group (NYSE: CZOO) traded nearly 10% higher as of 10:22 a.m. ET Monday for no obvious reason. Now a penny stock, Cazoo has been hammered this year, with the stock down more than 91%. The move will enable the company to save roughly 100 million pounds by the end of 2023, which Cazoo believes can hasten its path to profitability.