Autohome (ATHM) stock surged Wednesday after the China car website reported double-digit earnings and revenue increases and gave Q1 guidance that topped Wall Street expectations. China’s No. 1 online car sales company reported earnings per share excluding items of 38 cents, up 89% year over year, as revenue revved 91.5% to $119 million. It was at least the 18th straight quarter of double-digit revenue growth and third straight quarter for
BitAuto’s (BITA) stock is showing signs of topping as it plunged 17% on weak China car sales data. The drop has caused the stock’s late-stage breakout to fail. That failure, coupled with having a climax run, are signs of a top. Rival Chinese auto information site Autohome (ATHM) fell 8%, slicing through key support levels IBD TV’s Alissa Williams explains. Follow Alissa on Twitter: @IBD_AWilliams.
Autohome (ATHM), China’s No. 1 online car sales site, saw its stock sink Wednesday after the company reported much higher operating expenses in Q3 and announced that it would offer new shares. The Beijing-based Web company announced that it would file a registration statement for a public offering of 1.65 million American depositary receipts, also called American depositary shares or ADSs. “The proposed offering is expected to provide for greater