stinger77
2021-05-19
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Chinese Auto Retailer Soars 272% in First Day of Trading
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Go go go","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/197013896","repostId":1147954852,"repostType":4,"repost":{"id":"1147954852","kind":"news","pubTimestamp":1621409706,"share":"https://www.laohu8.com/m/news/1147954852?lang=&edition=full","pubTime":"2021-05-19 15:35","market":"us","language":"en","title":"Chinese Auto Retailer Soars 272% in First Day of Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1147954852","media":"barrons","summary":"Shares of Chinese auto sellerJiuzi Holdingsrocketed 272% in their first day of trading.\nJiuzi (ticke","content":"<p>Shares of Chinese auto sellerJiuzi Holdingsrocketed 272% in their first day of trading.</p>\n<p>Jiuzi (ticker: JZXN) stock opened Tuesday afternoon at $45, nine times its offer price, on the Nasdaq. Shares peaked at $49.01, before falling and closing at $18.62, up 272% from their IPO price.</p>\n<p>The retailer continues the trend of Chinese companies soaring on their first day of trading on U.S. exchanges.UTime(UTME), a China-based mobile phone maker,shot up 875%in April when it opened on the Nasdaq.Cloopen Group Holding,(RAAS) a provider of cloud-based communication services in Beijing,surged 200%in February when it began trading on the New York Stock Exchange.</p>\n<p>The rousing debut of Jiuzi also comes during a correction in the IPO market. Last week, three companiespulled their deals after a broad market selloff. Only a trio of companies are listing their shares this week:Squarespace, Procore Technology andOatly Group.</p>\n<p>Jiuzi’s IPO was a long time coming. The Hangzhou, China, companyconfidentially filedfor an IPO in July 2020.It set terms in November, planning to offer 5 million shares at $4 to $5 each. Late Monday, Jiuziraised $26 millionafter selling 5.2 million shares at $5 a share. Boustead Securities is the underwriter on the deal.</p>\n<p>Jiuzi franchises and operates retail stores in China that sell new-energy vehicles, a prospectus said. Nearly all of the cars it sells are battery-operated electric but some are also plug-in. The company has 31operating franchise stores and one company-owned store in China.</p>\n<p>The company is profitable. Jiuzi reported $3.4 million in income for the year ended Oct. 31, 2020, compared to $3.2 million in profit for the same time period in 2019. Revenue rose nearly 3% to $8.2 million in 2020,a prospectus said.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Auto Retailer Soars 272% in First Day of Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Auto Retailer Soars 272% in First Day of Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-19 15:35 GMT+8 <a href=https://www.barrons.com/articles/chinese-auto-retailer-soars-880-in-first-day-of-trading-51621365914?refsec=markets><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Chinese auto sellerJiuzi Holdingsrocketed 272% in their first day of trading.\nJiuzi (ticker: JZXN) stock opened Tuesday afternoon at $45, nine times its offer price, on the Nasdaq. Shares ...</p>\n\n<a href=\"https://www.barrons.com/articles/chinese-auto-retailer-soars-880-in-first-day-of-trading-51621365914?refsec=markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JZXN":"九紫新能"},"source_url":"https://www.barrons.com/articles/chinese-auto-retailer-soars-880-in-first-day-of-trading-51621365914?refsec=markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147954852","content_text":"Shares of Chinese auto sellerJiuzi Holdingsrocketed 272% in their first day of trading.\nJiuzi (ticker: JZXN) stock opened Tuesday afternoon at $45, nine times its offer price, on the Nasdaq. Shares peaked at $49.01, before falling and closing at $18.62, up 272% from their IPO price.\nThe retailer continues the trend of Chinese companies soaring on their first day of trading on U.S. exchanges.UTime(UTME), a China-based mobile phone maker,shot up 875%in April when it opened on the Nasdaq.Cloopen Group Holding,(RAAS) a provider of cloud-based communication services in Beijing,surged 200%in February when it began trading on the New York Stock Exchange.\nThe rousing debut of Jiuzi also comes during a correction in the IPO market. Last week, three companiespulled their deals after a broad market selloff. Only a trio of companies are listing their shares this week:Squarespace, Procore Technology andOatly Group.\nJiuzi’s IPO was a long time coming. The Hangzhou, China, companyconfidentially filedfor an IPO in July 2020.It set terms in November, planning to offer 5 million shares at $4 to $5 each. Late Monday, Jiuziraised $26 millionafter selling 5.2 million shares at $5 a share. Boustead Securities is the underwriter on the deal.\nJiuzi franchises and operates retail stores in China that sell new-energy vehicles, a prospectus said. Nearly all of the cars it sells are battery-operated electric but some are also plug-in. The company has 31operating franchise stores and one company-owned store in China.\nThe company is profitable. Jiuzi reported $3.4 million in income for the year ended Oct. 31, 2020, compared to $3.2 million in profit for the same time period in 2019. Revenue rose nearly 3% to $8.2 million in 2020,a prospectus said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":184,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/197013896"}
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