Phoenix Tree Holdings (NYSE:DNK) is on the rise Wednesday despite no new news coming from the company.
The rise in Phoenix Tree Holdings stock comes alongside heavy trading this morning. The company has seen about 89 million shares change hands as of this writing. That’s a major increase over its daily average trading volume of 1.28 million shares.
With Phoenix Tree Holdings gaining attention, investors will need to know what it’s all about. Luckily, we have a quick primer below.
- Phoenix Tree Holdings is a Chinese company based in Beijing that handles the renting of rooms to residents.
- However, it’s not a typical renting company.
- Instead, the company works with landowners to set up individual rooms as apartments through its Danke Apartment division.
- This also has it taking care of the remodeling of the room, as well as furnishing it to get it ready for renters.
- It also offers dormitory-style apartments to businesses through its Danke Apartment business.
- This has it renting out whole floors of buildings and renovating them into multiple rooms for employee use.
- While its focus is on renting apartments, Phoenix Tree Holdings doesn’t slack in the data department.
- The company seeks to allow for easy renting through online means.
- To allow for that, it has its own big data platform with a learning artificial intelligence.
- It’s also worth noting that the company’s market cap is sitting at $771.78 million.
- It was founded in 2015 and only went public earlier this year.
DNK stock was up 83.2% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.