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Cango Inc. (CANG)

NYSE - NYSE Delayed Price. Currency in USD
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5.41+0.31 (+6.08%)
At close: 4:00PM EDT
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  • A
    Anonymous
    CANG, LI, XPEV, NIO are all at their Oct/Nov 2020 price levels.

    There is no demand for CANG stock, ie; options not allowed so no attempts to cover positions. Low short interest, so no shorts buying to cover positions. No stock buy-back by the company itself. No recommendations to speak of, other than Dr. S. from Stansberry who essentially pumped and dumped the stock in Jan/Feb. Every time there is a rise in the stock "trapped buyers" unload their shares sending the stock down. The company has a fundamentally strong balance sheet, but imo be prepared to buy and hold for the long term, until the stock is accumulated by the company itself and institutions.
  • E
    Eric
    And today, we have a network of nearly 50,000 registered dealers nationwide, making Cango a leading technology-based automotive transaction services platform in China.

    Building on this solid foundation, we are actively expanding the upstream and downstream of industry value chain, extending our reach to the car trading transactions and aftermarket services facilitation segment, pressing to forward toward the goal of better serving customers and the auto industry as a whole.
  • A
    Anonymous
    Be aware of general risk of de-listing for many Chinese companies who do not comply with U.S. SEC audit standards - Sarbanes-oxley PCAOB auditing. The "Holding Foreign Companies Accountable Act" signed into law December 2020. CANG is on the PCAOB list of companies who do not comply, as is BABA, ATHM and many others. This is putting downward pressure on all China company listings.

    https://realmoney.thestreet.com/investing/global-equity/chinese-tech-stocks-plunge-on-tighter-access-to-u-s-markets-15648295
  • A
    Anonymous
    The volume action on this stock is suspicious. Ridiculously light volume and as soon as price ticks up a few cents this morning, 10:25 suddenly 11k shares are traded in one minute and price sinks. The "China Hustle" seems in full swing. Just beware to anyone entering new money; this may be going to $5 or lower before a reversal. I am long 2100 shares at $8.83 btw.
  • O
    Onions
    We all know that it will happen, but soon stocks will be purchased back. So when this happens be on the boat
  • R
    Rani
    Why you should buy this stock long-term.

    Cango is a company that captures the behind the scenes of the entire Chinese auto market. They are the leaders in providing auto financing solutions and auto trading transactions. They are criminally undervalued trading at a P/E ratio of 2. They have grown EPS and net revenue every year at 40% growth. They also got a massive influx from investing in Li Auto which netted them $3.3 billion in profit. They are the top solutions partners for Tesla stores in China, VM motors and Aion and have a registered network of 48,000 car dealers. They are also on the right side of government policy since they have partnered up with the biggest bank in China and 13 other financial institutions which are state-run.

    Overall, If you are betting on the electric vehicle industry to grow over the next 5 years, then Cango is well positioned to capitalize on this growth. Without having to invest in one particular auto company that you think will do well, why not bet on the entire industry...
    Bullish
  • A
    Anonymous
    PE Ratio is 1.96....this is crazy undervalued...Maybe manipulation because company wants to buyback stocks for 50 million ....
  • R
    Randy
    The price to book is way off. What is wrong here, besides low volume?
  • m
    miguel
    I'm not sure if you guys know but the numbers displayed here on the financials are in Renminbi. Not sure why Yahoo doesn't do the conversion.

    The position in cash is around $218 million.

    Besides that, the company sure is growing steady and strong.
  • A
    Anonymous
    Nearly at support, $5.40. Good R/R at that level. Earnings is probably next month, as they just reported in March for 4th quarter. If earnings don't surprise negatively, could be headed back towards $8 by EOY.
  • A
    Anonymous
    CANG was trading low $6s in June 2020 in the midst of a pandemic and uncertain future of the auto industry in China. How in the world is this now back to low $6s trading less than 2x earnings? Anyone have any ideas?? The chip shortage?
  • A
    Anonymous
    84k share volume on the day at 1:45?? Well, hopefully that means all the sellers are gone. Bought 500 more shares today.
    Bullish
  • H
    Harry
    Cang net cash is twice as much as its cap!
    Bullish
  • A
    Anonymous
    Nissan news good ... CANG only went down 7% instead of 10% today. Things are looking up!
  • s
    scott
    Auto sales in China surged in March for their 12th consecutive month of gains, as the world's biggest car market leads the sector's recovery from the COVID-19 pandemic.

    Sales reached 2.53 million vehicles in March, up 74.9% year-on-year, data from the China Association of Automobile Manufacturers (CAAM) showed.

    Sales of new energy vehicles (NEVs), including battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles, increased 239% in March to 226,000 units.

    NEV makers, such as homegrown Nio Inc and Xpeng Inc , as well as foreign groups, such as Tesla Inc, are expanding manufacturing capacity in China as it promotes greener vehicles to cut air pollution.

    Another Chinese auto industry body, China Passenger Car Association, said on Friday Tesla sold 35,478 China-made cars in March. Chen Shihua, a senior executive at CAAM, said the industry body expects the chip supply shortage to have bigger negative impact on China's auto production in the second quarter than in the first.
  • C
    Clay
    Anyone receive their special dividend today? I checked my account, nothing yet.
  • M
    Michael
    One Word........ Up
  • e
    eljo saique
    sooo undervalued
    Bullish
  • B
    Biscuit
    Trying to learn about this company. Balance sheet says it has 212 mil in cash, 665 mil in Li auto shares, and 392 in receivables. At 153 mil shares outstanding, just the current assets give a per share value of $8.40...this doesn’t even include any earnings the company brings in or will contirnue to bring in... lol
  • S
    Steve
    Bought more shares today averaged down. Will add more if it hit $5. Just need some patience.