Kanzhun's Strong Quarter Overshadowed By Broad Sell-Off In Chinese Stocks: Details
Portfolio Pulse from Anusuya Lahiri
Kanzhun Ltd (NASDAQ:BZ) reported strong fiscal Q1 2024 results with a 33.4% YoY revenue increase and adjusted EPADS beating estimates. Despite this, the stock declined due to a broader sell-off in Chinese stocks. Investors can gain exposure to Kanzhun via Vanguard Total International Stock ETF (NASDAQ:VXUS) and iShares Core MSCI Emerging Markets ETF (NYSE:IEMG).
May 21, 2024 | 1:12 pm
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Kanzhun Ltd reported strong Q1 2024 results with a 33.4% YoY revenue increase and adjusted EPADS beating estimates. However, the stock declined due to a broader sell-off in Chinese stocks.
Despite strong earnings, Kanzhun's stock declined due to a broader sell-off in Chinese stocks, driven by increased bearish bets against China ETFs.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Investors can gain exposure to Kanzhun via iShares Core MSCI Emerging Markets ETF, which may be impacted by Kanzhun's performance and broader trends in Chinese stocks.
IEMG may be impacted by Kanzhun's performance and the broader sell-off in Chinese stocks, as it includes exposure to Kanzhun.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Investors can gain exposure to Kanzhun via Vanguard Total International Stock ETF, which may be impacted by Kanzhun's performance and broader trends in Chinese stocks.
VXUS may be impacted by Kanzhun's performance and the broader sell-off in Chinese stocks, as it includes exposure to Kanzhun.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50