Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Cheetah net executive sells over $3 million in company stock

Published 22/05/2024, 21:28
CTNT
-

Cheetah Net Supply Chain Service Inc. (OTCMKTS:CTNT), a key player in the wholesale motor vehicles and parts supply industry, has witnessed a significant stock transaction by a major shareholder. Yuan Ying-Chang, a ten percent owner of the company, has sold a total of 1,200,000 shares of Class A Common Stock, reducing his holdings to zero. The transaction, which took place on May 21, 2024, amounted to over $3 million, with the shares sold at an average price of $2.53 each.

The sale was executed through multiple transactions at prices ranging from $0.91 to $3.17, indicating a variance in the market value of the shares at the time of the sale. The reported average price represents the weighted average of all shares sold on the reported date. Yuan Ying-Chang has committed to providing detailed information regarding the number of shares sold at each separate price within the range upon request by the issuer, any security holder, or the staff of the U.S. Securities and Exchange Commission.

It's notable that the shares were indirectly owned by Yuan Ying-Chang through Grand Bright International Holdings Limited, a company where he holds complete ownership. This move by a significant investor in the company has brought attention to Cheetah Net's stock activity, which may be of interest to current and potential shareholders.

Yuan Ying-Chang's sale of his Class A Common Stock in Cheetah Net Supply Chain Service Inc. is now a matter of public record, providing transparency to the market and allowing investors to stay informed about major shifts in company ownership. As the company continues to navigate the competitive landscape of the wholesale automotive industry, such transactions are closely watched by the investment community.

InvestingPro Insights

Amidst the recent notable stock transaction by a major shareholder of Cheetah Net Supply Chain Service Inc. (OTCMKTS:CTNT), the company's market performance and financial metrics have come under scrutiny. According to the latest data from InvestingPro, CTNT's market capitalization stands at a modest $22.64 million, reflecting its position in the wholesale motor vehicles and parts supply industry. The company's stock has experienced a tumultuous period, with a significant 1-week price total return of -83.07% and a 1-year price total return of -82.9%, which aligns with the InvestingPro Tip highlighting the stock's substantial hit over the last year.

Analyzing the financial health of CTNT, the company's revenue has seen a sharp decline of -43.65% over the last twelve months as of Q1 2024. This is corroborated by an even more drastic quarterly revenue growth rate of -85.24% in Q1 2024, which supports the InvestingPro Tip that analysts are anticipating a sales decline in the current year. Furthermore, the company's gross profit margin stands at 10.57%, indicating challenges in maintaining profitability, as reflected in the InvestingPro Tip pointing out the company's weak gross profit margins.

For investors and potential shareholders looking to gain a deeper understanding of CTNT's financial and market performance, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available that can help in making an informed decision. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, allowing access to valuable investment analysis and data.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.