App-Based Valet Parking Startup Rockets Up After Merger
Markets continue churning today—they’ve rapidly recovered from the recent correction, but also continue to demonstrate heightened volatility. After a sharp rally earlier in the session, major indexes are now broadly retreating—apparently tamped down by a wave of indictments, all of
Short-term pressure on US Treasuries and the dollar appear to be easing for the moment, though the market continues to be poised at a curious inflection point.
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DropCar is a “valet parking” startup. Targeting high-priced parking markets like New York City, DropCar car provides on-demand valet drivers via
This morning, DropCar provided a business update, focused on its integration efforts after a recent merger with WPCS International. Overall usage rates were up sharply on a per-user basis, as was the base of regular subscriptions.
The startup is only beginning to exploit a series of market opportunities on the periphery of its core model. For instance, luxury apartment complexes are considering integrating the service into an overall package, even as car dealers explore on location test-drives. You can read more about their business model here.
Investors bought the stock heavily after the announcement. Currently sitting up 25% even as broader market momentum sags, it has posted gains as high as 40%. From
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