Phoenix Tree Holdings (NYSE:DNK) is on the rise Wednesday despite no new news coming from the company.
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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.
