Chinese used car e-commerce firm Uxin Limited (NASDAQ: UXIN) emerged as one of the major gainers yesterday after the company announced that it could get a significant investment.
The stock soared by as high as 69% on Thursday after Uxin announced that two funds based out of Asia have signed binding term sheets with regards to investment in the company. The company revealed that at this point the company is engaged in discussion with the two funds. However, if the deals are concluded then it could bring in as much as $300 million in fresh investment.
It goes without saying that an investment of such magnitude is going to come as a major boost for the company. In this regard, it is also necessary to point out that at this point, Uxin has a market cap of $600 million, and hence, an investment of $300 million is going to be a considerable boost to the company. It might be a good idea to keep the stock in the watch lists at this point.