The market has been down on Cango Inc - ADR (CANG) stock recently. CANG gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With CANG Stock Today?
Cango Inc - ADR (CANG) stock has fallen -10.34% while the S&P 500 has gained 0.03% as of 2:00 PM on Wednesday, Apr 14. CANG has fallen -$0.82 from the previous closing price of $7.89 on volume of 1,068,375 shares. Over the past year the S&P 500 is higher by 50.02% while CANG has gained 35.96%. CANG earned $6.78 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 1.04.
More About Cango Inc - ADR
Cango Inc is one of the leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. The services primarily consist of - automotive financing facilitation, automotive transaction facilitation, and aftermarket service facilitation. Geographically, it derives revenue from China.