Jiuzi Holdings Inc. (NASDAQ: JZXN) is a fascinating Chinese company that operates EV and new energy vehicle retail spots across mainland China. With China now reopening its industries, players like Jiuzi continue to see surging interest surrounding it, with the assumption that these players had been under immense undervaluation due to the wider circumstances.
The Mystery Around Jiuzi Holdings
The electric vehicle retail store operator, Jiuzi Holdings (JZXN) has been having quite the field day in the after-hours of the market today, as bulls have driven up its price from $0.19, to as high as $0.32 at one point. The rise comes as being somewhat surprising, especially since there has been no informational update or any form of PR that has come out of the company since October last year. We do know that insiders together own over 60% of the company. These characteristics make Jiuzi an interesting name to keep track of, as even a little information could send the stock surging in the markets.
Wider Investment Potential of JZXN
Despite the relative lack of information available on JZXN stock, it has been seeing growing interest for the last couple of months. In fact, the stock has appreciated in price by over 70% since the start of the year, with many attributing this to China’s opening up of the industry. In the last three months, institutional transactions involving Jiuzi have almost tripled, indicating that there is a lot more to the stock than is apparent. Its revenue has jumped by 215% quarter-over-quarter, as China turned its back on its zero-Covid policy.
Conclusion
JZXN may seem like an elusive Chinese tech stock, but its indicators and information make it very compelling to keep on the market’s radar. Its recent after-hours gain may predict the momentum the stock will take on in the following days, especially throughout the week.
