CANG Stock Summary and Trading Ideas (Cango American Depositary Shares Each Representing Two (2) Class A | NYSE:CANG)

Cango Inc is an automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. The services mainly consist of - automotive financing facilitation, automotive transaction facilitation, and aftermarket service facilitation. Geographically, it derives revenue from China.

Cango American Depositary Shares Each Representing Two (2) Class A trades on the NYSE stock market under the symbol CANG.

As of April 23, 2024, CANG stock price climbed to $1.47 with 155,855 million shares trading.

CANG has a beta of 0.71, meaning it tends to be less sensitive to market movements. CANG has a correlation of 0.03 to the broad based SPY ETF.

CANG has a market cap of $203.95 million. This is considered a Small Cap stock.

In the last 3 years, CANG stock traded as high as $7.22 and as low as $.92.

The top ETF exchange traded funds that CANG belongs to (by Net Assets): AVEM, AVSE.

CANG has outperformed the market in the last year with a return of +25.6%, while the SPY ETF gained +24.4%. In the last 3 month period, CANG beat the market returning +34.9%, while SPY returned +5.0%. However, in the most recent 2 weeks CANG has underperformed the stock market by returning -3.3%, while SPY returned -2.5%.

CANG support price is $1.26 and resistance is $1.42 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CANG stock will trade within this expected range on the day.