NEW YORK (TheStreet) -- Shares of TrueCar (TRUE - Get Report) were down 8.24% to $9.74 on heavy trading volume late Thursday afternoon after Amazon.com (AMZN) announced it would be launching Amazon Vehicle, an online service to help car buyers.
Amazon.com's new site will provide customers with information like specifications, images and reviews for thousands of car models. It will operate as an extension of the existing Amazon Automotive store.
TrueCar, based in Santa Monica, CA, is a car-buying website that offers users automotive pricing and information for used car buyers and dealers.
More than 1.57 million shares of TrueCar stock have traded so far today, higher than the stock's 30-day daily average of 671,000 shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity.
You can view the full analysis from the report here: TRUE