Streetbeat News

CANG

Cango Inc.

https://www.cangoonline.com

Industry

Auto - Dealerships

Cango Inc. operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions, including car sourcing, logistics, and warehousing support for dealers; and facilitation of car purchases for car buyers. It also facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; and after-market services to car buyers, which includes facilitating the sale of insurance policies from insurance brokers or companies. The company was founded in 2010 and is headquartered in Shanghai, the People's Republic of China.

Open

3.91

Mkt cap

441M

Volume

237K

High

4.09

P/E Ratio

20.05

52-wk high

4.21

Low

3.80

Div yield

N/A

52-wk low

0.92

Cango Inc. has appointed MaloneBailey, LLP as its new independent registered public accounting firm, replacing Ernst & Young Hua Ming LLP. This change is effective from November 18, 2024, and will cover the financial year ending December 31, 2024.

Portfolio Pulse from

November 18, 2024 | 12:15 pm

Cango Inc. has completed a $256 million cash acquisition of crypto mining assets with a 32 EH hashrate from Bitmain. This follows a proposed share-settled acquisition of additional crypto mining machines with an 18 EH hashrate for $144 million.

Portfolio Pulse from

November 15, 2024 | 12:15 pm

Cango Inc. (NYSE: CANG) has announced agreements to acquire crypto mining assets, including machines with a total hashrate of 50 Exahash per second, for approximately $400 million. The largest transaction involves purchasing 32EH from Bitmain for $256 million in cash.

Portfolio Pulse from

November 06, 2024 | 2:30 pm

Cango Inc. reported its unaudited financial results for Q3 2024, showing a significant decline in total revenues to RMB27.0 million (US$3.8 million) from RMB353.6 million in Q3 2023.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

Cango Inc. held its Q3 2024 earnings conference call, discussing financial performance and company updates.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

Several consumer discretionary stocks experienced significant intraday movements on Monday. Notable gainers included Greenlane Holdings, Serve Robotics, and QuantaSing Group, while Digital Brands Group and SAG Holdings were among the top losers.

Portfolio Pulse from Benzinga Insights

October 28, 2024 | 4:31 pm

The article reports on the after-market movements of several consumer discretionary stocks. Notable gainers include SRIVARU Holding, Big 5 Sporting Goods, and Ralph Lauren, while significant losers include Nxu, NWTN, and Yoshitsu Co.

Portfolio Pulse from Benzinga Insights

October 25, 2024 | 8:31 pm

Several consumer discretionary stocks experienced significant price movements in Monday's pre-market session. Notable gainers include Algorhythm Holdings, Jowell Global, and Vista Outdoor, while Forza X1 and Cheetah Net Supply Chain were among the biggest losers.

Portfolio Pulse from Benzinga Insights

October 07, 2024 | 12:08 pm

Cango Inc. (NYSE:CANG) is shifting its business model to focus on exporting used Chinese cars and providing related services, moving away from direct car trading. This strategic pivot comes as China's domestic car market slows, and Cango aims to capitalize on the growing global demand for Chinese vehicles. Despite a significant drop in revenue, Cango's stock has risen 74% this year, contrasting with declines in competitors Autohome (NYSE:ATHM) and Uxin (NASDAQ:UXIN).

Portfolio Pulse from The Bamboo Works

September 05, 2024 | 3:25 pm

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.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 9:39 pm

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