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. (CANG) expects its Q2 total revenues to be between RMB35 million and RMB45 million, a significant decrease from the RMB64.4 million reported in Q1.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 9:35 pm

Cango (NYSE:CANG) reported Q1 adjusted earnings per ADS of $0.12, a 50% increase from $0.08 YoY. However, sales plummeted by 88.74% to $8.92 million from $79.01 million YoY.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 9:32 pm

Shares of companies within the consumer discretionary sector are trading higher following a softer-than-expected May CPI Report and the Fed's decision to leave rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:36 pm

In Tuesday's pre-market session, 12 consumer discretionary stocks showed significant movement. Gainers included ZHONGCHAO, BurgerFi International, Cango, Uxin, PENN Entertainment, and PulteGroup, with PulteGroup's rise attributed to Q1 earnings release. Losers comprised Secoo Holding, Selina Hospitality, MGO Global, LKQ, Canoo, and Sabre, with LKQ's drop also linked to its Q1 earnings announcement.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 12:06 pm

Cango Inc. announced a share repurchase program of up to $50 million, leading to an increase in its stock price.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:08 am

Cango Inc. has announced a new share repurchase program, under which the company is authorized to repurchase up to $50 million of its shares. This move is aimed at enhancing shareholder value and reflects the company's confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:07 am

In Thursday's after-market session, several consumer discretionary stocks showed notable movements. Aterian, BurgerFi International, Cango, Connexa Sports Techs, CarParts.com, and ARKO were among the gainers, with increases ranging from 2.69% to 5.8%. On the downside, Lixiang Education Hldg, Cricut, JX Luxventure, Naas Technology, SRM Entertainment, and Kaixin Holdings experienced declines between 2.6% and 4.6%.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:31 pm

Cango Inc. (CANG) is shifting its focus to exporting used Chinese cars to developing markets with its new app, AutoCango, after facing intense competition in China's car market. Despite a 73% revenue drop in Q4 last year, Cango's stock has risen due to its conservative financial approach and substantial cash reserves. The company's domestic business struggles, but it aims to capitalize on China's position as a top auto exporter. Cango's cost-cutting measures have narrowed losses, and it is adjusting its business model to lower risk by focusing on intermediary services.

Portfolio Pulse from The Bamboo Works

March 14, 2024 | 1:15 pm

Cango Inc. forecasts its Q1 total revenues to range between RMB50 million to RMB100 million.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:37 pm

Cango Inc. (CANG) reported a Q4 loss per ADS of $(0.13), an improvement from $(0.58) YoY. However, sales decreased to $18.34M from $70.63M YoY.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:36 pm

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