On Thursday, Chinese energy vehicle retail company Jiuzi Holdings (NASDAQ:JZXN) completed its initial public offering, and this morning the stock has already soared by 26%.
In this situation, it might be a good idea for investors to look a bit more closely into Jiuzi Holdings and its business interests. The company operates retail locations under the brand name Jiuzi that are meant for new energy vehicles or NEVs. At this point in time, the retail stores are located in the third-fourth tier cities in the country.
In total, Jiuzi has a total of 31 franchises and 1 store that is operated directly by the company. The company sources the vehicles from more than 20 car makers and the lion’s share of the NEVs that are sold by Jiuzi are operated on batteries. The company, which was established back in 2007, listed 5.2 million shares on NASDAQ yesterday and opened at $5 a share. It netted Jiuzi $26 million in gross proceeds straightaway.
JZXN is up 29.44% to $9.60, well off session high of $14.50.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.