Why Uxin Was Jumping Higher Today
Shares of Uxin (Nasdaq: UXIN) were running 10% higher in afternoon trading Monday after the Chinese online used car dealer filed its fiscal fourth-quarter and annual earnings report over the weekend.
The company had been at risk of going under, having issued a going concern notice during the last year as its ability to generate sufficient working capital was constrained. However, it transitioned to an inventory-owning business model, which improved the quality of the cars it was able to offer the public, a key component to selling used cars.
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Source Fool.com
