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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Otabek who wrote (76572)	11/21/2024 9:40:21 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78516

CANGO. Congrats to you - Nice job. I looked now, and I can't see where all the cash is/has come from. Nor do I understand its diversification move you report: "Crypto mining" suggests to me they're hopping on the bandwagon the market likes. Car business to crypto? Looks like stock gains could continue though. Company still seems to have plenty of cash for investing. Momentum here looks good. How long for, I've no idea. Too tough for me. I leave it to those more nimble, adept than me.

To: Otabek who wrote (76572)	11/24/2024 7:50:09 AM
From: bruwin	Respond to of 78516

CANG .... you asked ---> " Would love to hear more from you guys" Looking at CANG's LTM 3QFY2024 one sees an ongoing declining Top Line Revenue (TLR) ... At 2QFY2023 CANG's TLR was 292.4m At 3QFY2024 CANG's TLR was 38.0m ... a reduction of ~254m or ~87% over 15 months. At 2QFY2024 CANG's TLR was 81.6m ... a reduction of ~44m or ~54% over 3 months. However, CANG's Net Income for 3QFY2024 was 20.0m compared to its 2QFY2024 of only 3.2M. So what contributed to this Increase in CANG's Net Income seeing as its TLR has fallen so dramatically ? It seems that 2 factors came to CANG's "rescue" ---> a) Impairment of Goodwill from -20.5m to 0.0m b) Earnings from Continuing Operations, up from 3.2m to 20.4m The question is, are the likes of (a) and (b), or a combination of both, going to dramatically improve Gross Revenue and Net Income on an ongoing, and increasing, basis, or is this just a short term move ?