RideNow Shares Watch After $35M Financing Deal
RideNow shares closed at $7.81 Friday, down 1.01% on the day and 1.26% for the week. The company secured an extra $35 million in floorplan financing from Wells Fargo, raising its credit line to $135 million. First-quarter revenue rose 6.4% to $260.4 million, but net cash used in operations jumped to $27.6 million. U.S. markets are closed Monday for Memorial Day.