Why BitAuto Holdings Stock Plunged Today [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 online automotive leader received a downgrade. Here's what investors need to know. Steve Symington ( TMFSymington ) Jun 14, 2018 at 3:10PM What happened Shares of BitAuto Holdings ( NYSE:BITA ) were down 11.6% as of 2:30 p.m. EDT Thursday after an analyst downgrade of the Chinese online automotive marketing services company. More specifically, Macquarie analyst Wendy Huang downgraded BitAuto Holdings to Neutral from Outperform. Huang also assigned a $29-per-share price target on the stock, representing a roughly 20% premium from its current trading price after today's decline. Image source: Getty Images. So what Keeping in mind BitAuto stock only just surged yesterday on the company's better-than-expected first-quarter 2018 results, Huang justified her relative bearishness by noting that BitAuto's forward guidance was lar
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