Why Baidu, Full Truck Alliance, and Bilibili Are Trading Higher Today [Yahoo! Finance]
Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares) (YMM)
Company Research
Source: Yahoo! Finance
Chinese stocks rallied today after the People's Bank of China (PBOC), trying to get the Chinese economy out of its recent slump, announced interest rate cuts and better stimulus measures than previously expected. Shares of the artificial intelligence (AI) and search company Baidu (NASDAQ: BIDU) traded nearly 5% higher, while shares of the shipping platform Full Truck Alliance (NYSE: YMM) rose nearly 9%. Meanwhile, shares of the online video platform Bilibili (NASDAQ: BILI) surged nearly 13%. Will stimulus be enough? Following the Federal Reserve's interest rate cut of 50 basis points (bps) last week, investors upped their bets that China would soon follow suit, but the announcement by the PBOC seemed to catch the market by surprise. China's central bank told reporters that it plans to lower banks' reserve requirements by 50bps shortly, and that there may be additional decreases to bank reserve requirements. Additionally, the PBOC lowered the seven-day reverse repo rate by 20bps
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News
- Are You Looking for a Top Momentum Pick? Why Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) is a Great Choice [Yahoo! Finance]Yahoo! Finance
- Institutional investors are Full Truck Alliance Co. Ltd.'s (NYSE:YMM) biggest bettors and were rewarded after last week's US$1.3b market cap gain [Yahoo! Finance]Yahoo! Finance
- Full Truck Alliance Co. Ltd. (NYSE: YMM) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $13.00 price target on the stock, up previously from $12.00.MarketBeat
- Full Truck Alliance Co. Ltd. (NYSE: YMM) had its price target raised by analysts at Citigroup Inc. from $13.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- Full Truck Alliance Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
YMM
Earnings
- 11/20/24 - Beat
YMM
Sec Filings
- 12/3/24 - Form SC
- 11/21/24 - Form 144
- 11/20/24 - Form 6-K
- YMM's page on the SEC website