RumbleOn Inc. RMBL,+3.64% shares fell 7.3% in premarket trade Friday to reach their eighth consecutive loss after the motor car dealer and ecommerce website revealed that it was investigating former Chief Executive Marshall Chesrown. In a filing to the Securities and Exchange Commission, the company announced late Thursday that Chesrown had announced on June 11 his resignation from the role of CEO effective June 15. He will continue to serve as a member of the board. The company stated in a press release that it was informed of allegations regarding Mr. Chesrown’s use of company assets before his departure. The company has said that it has hired an independent attorney to help with the ongoing investigation. The company announced on Friday that it had appointed Mark Tkach, a “major shareholder”, as interim CEO. The stock has still risen 20.2% in the last three months, despite the fact that it had fallen 21.0% during the previous seven sessions. Meanwhile, the S&P500 SPX +0.13% is up 11.8%.