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 May 3, 2024, CANG stock price climbed to $1.55 with 39,297 million shares trading.

CANG has a beta of 0.72, 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 $161.77 million. This is considered a Micro Cap stock.

In the last 3 years, CANG stock traded as high as $6.80 and as low as $.92.

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

CANG has outperformed the market in the last year with a price return of +39.6% while the SPY ETF gained +26.1%. CANG has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +29.2% and +12.3%, respectively, while the SPY returned +3.7% and +2.4%, respectively.

CANG support price is $1.40 and resistance is $1.57 (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.