Uxin (NASDAQ:UXIN) Stock Soars 185% In a Week: What’s the Buzz?

Those who are currently looking into stocks that made strong gains last Friday would find it difficult to look past the Uxin (NASDAQ:UXIN) stock, which recorded gains of 84% amidst considerable interest. The online car Chinese dealer saw its stock go on the remarkable rally after its financial results surpassed expectations.

Uxin Limited Reports Earnings Results for the First Quarter Ended June 30, 2024

The company had gone public in 2018, but since then it has struggled owing to issues with the e-commerce sector in China and declining consumer spending in the country. However, Uxin decided to change tack by going for a new strategy, and that helped the company gain a much-needed foothold in the huge used car market in China.

The transaction volume went up 72% from the prior year quarter to hit 5605 units, and that had largely been driven by the rise in retail units, which went up to 4090 from 1687 in the same period. Revenues went up to $55.2 million, which worked out to a rise of 38.8% from the prior year quarter.

However, the EBITDA earnings actually declined to $4.7 million from $6.7 million a year ago. The company also noted that in addition to growth in sales, Uxin had also boosted its Net Promoter Score to 65, which was among the highest in the concerned industry.

Technicals

+/- EMA(20)	2.63 (+155.13%)
+/- SMA(50)	1.86 (+260.75%)
+/- SMA(200)	2.6 (+158.08%)
5-Day Perf.	+170.56%
1-Month Perf.	+375.89%
3-Month Perf.	+225.73%
6-Month Perf.	+216.51%
YTD Perf.	-4.28%
1-Year Perf.	-58.83%
RSI(14)	93.4
ATR(14)	0.61
ADX(14)	35.35
Beta (5Y)	1.08