Cango Q2 Adj $0.11 Up From $0.05 YoY, Sales $6.20M
Portfolio Pulse from Benzinga Newsdesk
Cango (NYSE:CANG) reported a significant increase in quarterly earnings per share to $0.11, up 120% from $0.05 last year. However, sales plummeted by 93.34% to $6.20 million from $93.15 million in the same period last year.
August 29, 2024 | 9:39 pm
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NEUTRAL IMPACT
Cango's Q2 earnings per share increased by 120% to $0.11, but sales fell drastically by 93.34% to $6.20 million. This mixed performance may lead to volatility in the stock price.
The significant increase in earnings per share is a positive indicator, but the drastic drop in sales is concerning. This mixed result could lead to uncertainty and volatility in the stock price as investors weigh the positive earnings against the negative sales performance.
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