Jupai Holdings Limited (NYSE:JP) Stock Extends Rally: Jumps 38% in a Week
Shanghai based Jupai Holdings Limited (NYSE:JP) could be a stock to watch for investors this week considering the sort of gains that have been clocked by its stock in recent days. Last Friday the stock was in action once again and managed to deliver gains of 4%.
Market Stats
On Friday, JP stock jumped 4.20% at $1.4900 with more than 873.79K shares, compared to its average volume of 244.20 shares. The stock has moved within a range of $1.3400 – 1.5300 after opening the trade at $1.3900.
Latest News
That took it cumulative gains over the course of the past week to as much as 38%. While the gains are certainly eye catching, it is perhaps also necessary to keep in mind that there has not been any news about Jupai Holdings in the past week.
In fact, the last time when the company was in the news was way back in March earlier on this year when it announced its unaudited financial results for the fourth fiscal quarter and the full year, both of which ended on December 31, 2020.
The company announced that it had managed to generate revenues to the tune of RMB98 million in the fourth quarter and that was actually lower than the revenues in the year ago period by as much as 28.4%. The net revenues for the full year came in at RMB388.2 million, which reflected a year on year decline of a 50.6%.
Traders Corner
JP stock is trading above the 20-Day and 50-Day Moving averages of $1.17 and $1.15 respectively. However, the stock is trading below the 200-Day moving average of $1.78. The stock is up 38% in the past month.
