Uxin Ltd (NASDAQ:UXIN) stock continues to gain momentum and gained another 20% on Wednesday. After opening flat this morning, the stock soared as much as over 46% earlier in the session and now up 20.50% at $2.44.
The stock has been experiencing solid buying pressure over the past week after announcing a strategic partnership with JD.com to launch a self-operated online store for used car transactions through JD’s platform.
The two companies will work together to provide consumers with one-stop online used car purchase solutions including used car inspection, purchasing, insurance, and aftersales services, and explore additional opportunities in data management, technology, inspection standards, and integrated supply chains in the used car business.
UXIN stock has soared almost 90% over the past week after the news. Moreover, the stock is up 140% over the past month and made a new high of $2.75 earlier today.
Keep an eye on UXIN stock as we may see some volatility in the coming sessions.