Uxin (NASDAQ:UXIN) stock is on the rise Wednesday afternoon following positive news from the Chinese online seller of used cars.
So what has UXIN stock racing higher today? We’ve got the details below.
- The jump for UXIN stock comes on the same day that it released results for its fiscal third quarter of 2021.
- In that earnings report, the company notes that it has completed its transformation into an inventory-owning model.
- As a result, how the company reports certain numbers, such as revenue, has changed.
- To go along with that, its revenue for the quarter was 322.9 million yuan, as compared to 466.4 million yuan, in the same period of the year prior.
- Its net loss of 172.9 million yuan was much lower than the 966.7 million yuan net loss reported in fiscal Q3 2020.
- During the quarter, the company also opened its first inspection and reconditioning center in Xi’an.
- Uxin’s earnings also include its NPR score increasing to 42 in the most recent quarter from 30 in the previous quarter and 10 in the quarter before that.
All of this positive news for UXIN stock has also caught the interest of investors on social media. Case in point, this post over on Twitter (NYSE:TWTR).
$UXIN is at the breaking point right now with the inverted head and shoulders formation!!! We are going for a ride ladies and gentlemen as soon as that neckline gets breached, were ago!!! pic.twitter.com/V78kzAaWwR
— DailyDayTrader (@StockMarketDay1) April 28, 2021
The increasing interest in UXIN stock also means heavier trading of the shares. We’re seeing just that with more than 113 million shares of the stock changing hands as of this writing. That’s a massive jump compared to the stock’s daily average trading volume of 14.3 million shares.
UXIN stock is also seeing major gains Wednesday with shares up 51.9% in the afternoon. That builds on the stock’s strong already strong performance with shares up 246.1% since the start of the year.
Earnings reports have been a catalyst of stock movement for a handful of companies today.
However, not all are performing well as UXIN stock. Some are taking a beat, but there are still those on the rise. A few stocks worth looking into today are Enphase Energy (NASDAQ:ENPH), Shopify (NYSE:SHOP), and Nio (NYSE:NIO). Take a deeper dive into what these stocks are doing today at the links below.
More Earnings News
- ENPH Stock: What’s Sucking the Energy Out of Enphase Today?
- SHOP Stock: 6 Reasons Why Shopify Shares Are Surging Today
- Nio’s Upcoming Earnings Report May Lead to a Much Higher Price
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
