Why Bitauto Holdings Limted Stock Gained 67.9% in 2017 [The Motley Fool]
BITAUTO HOLDINGS (BITA)
Last bitauto holdings earnings: 3/26 06:00 am
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Source: The Motley Fool
The Chinese automotive e-commerce company posted big gains last year and still has plenty of growth potential. Keith Noonan ( TMFNoons ) Jan 9, 2018 at 5:27PM What happened Bitauto Holdings Limited ( NYSE:BITA ) stock climbed 67.9% in 2017, according to data from S&P Global Market Intelligence . The Chinese online auto specialist recorded strong sales growth across the stretch, solid performance for its Yixin subsidiary in the lead-up to its initial public offering (IPO), and a string of generally favorable ratings coverage from analysts. So what Bitauto's strong fiscal performance, promising outlook for its main business and Yixin offshoot, and a bullish market for Chinese technology stocks combined to power shares to nearly 140% gains through the first 10 months of the year. The stock hit a 52-week high in October in anticipation of Yixi
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