Shares of Zipcar (ZIP) have shown some strength in recent weeks. After trading as low as $6 in the beginning of November, shares have returned some 35%, currently trading just above the $8 mark. A decent third quarter earnings report sent shares back higher, but shares still trade at historically depressed levels.
Third Quarter Results
A little over two weeks ago, Zipcar reported a decent third quarter earnings report. Revenues rose 15% on the year to $78.2 million. Revenue growth was driven by a 18% increase in the number of members which rose to 767,000.
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