Kaixin Auto Holdings: 5 Things for Potential KXIN Stock Investors to Know

Kaixin Auto Holdings (NASDAQ:KXIN) stock shares are blasting off on Monday after a strong end to last week.

An angled side view of a row of parked cars.
Source: lumen-digital / Shutterstock.com

The company received a big boost last Wednesday after one JPMorgan analyst upgraded his overall outlook on the Chinese electric vehicle (EV) market. Sure, this helped the likes of Nio (NYSE:NIO) also see major gains that day. But as one of the premium used car dealerships based in China, Kaixin Auto Holdings also reaped the benefits.

That said, here are a few tidbits that investors and potential investors should know about KXIN stock:

  • Kaixin was founded in 2015 by Chinese internet company Renren (NYSE:RENN).
  • The company focuses on Audi, BMW, Mercedes-Benz, Land Rover and Porsche.
  • Many of these premium brands have expanded into the world of electric vehicles.
  • Kaixin has 14 dealerships across 14 cities in 12 provinces in China.
  • The company is supported by the quick growth of China’s used car market and its hybrid business model.
  • Since its inception, Kaixin has moved from the realm of financing into a dealership network that provides a variety of value-added and after-sale services.

KXIN stock was up more than 320% as of Monday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Nick Clarkson is a Web Editor at InvestorPlace.


Article printed from InvestorPlace Media, https://investorplace.com/2020/10/kaixin-auto-holdings-5-things-for-potential-kxin-stock-investors-to-know/.

©2020 InvestorPlace Media, LLC