Shares of the Xinyuan Real Estate Co., Ltd. (XIN) stock were declining in the premarket trading session today on January 10, 2022. XIN stock price saw a decline of 7.89% to drop at $0.70 a share at the time of this writing. The stock was green in the previous trade and went up by 25.39% at closing. Let’s take a closer look at this stock to understand the culprit behind this decline.
What’s Happening?
There is no press release or any announcement by the company to justify the current bearish sentiment of XIN stock. No analyst has degraded or shrank the targeted per share price of XIN stock in recent times. It seems that profit-takers have stepped in as the XIN stock reached a certain height in the previous trade. The sentiment in the social media platforms like Reddit, Stock Twits is not positive, causing the decline in the per-share price of this stock.
Xinyuan Real Estate Co., Ltd is a Chinese company that is engaged in residential real estate development. Currently XIN stock has a market cap of $49.85 million and 251,547 average trading volume. Let’s discuss some recent events of this stock.
Recent Events of XIN stock
On November 26, 2021, Xinyuan Real Estate provided its update regarding the delivery of multi-site projects in 2021. In the first ten months of 2021, the company completed and delivered 12 projects, covering 1.05 million square meters in eight cities in China. The major projects are which the company delivered were in Shandong, Henan, Sichuan provinces as well as the cities of Shanghai and Tianjin.
By the end of October 2021, the company delivered 1,789 units of Zhengzhou International New City III. This represents a total area of 164,000 square meters. The company delivered 499 households in a single day under project B of the Zhengzhou International New City III. This is the recorded delivery by the company in a single day in recent years. The location of the project is the downtown city highlands. Property amenities consist of a courtyard and top-quality property management services.
Conclusion
After rising in the previous trade, XIN stock moved back in today’s premarket without any obvious news. In the last six months, the stock has lost approximately 69%.In short, research of a company’s fundamentals and future growth is necessary before any decision.
