I've been wondering for months how and why this stock is still moving at all. Everything seems to be fake. Or not? The CEO of Kaixin Auto Holdings, Mingjun Lin, should explain the following to the shareholders: Why are there always reports of success without showing this success on the balance sheet? How does he want to develop electric cars with 18 million dollars? Kaixin claims to have 35 employees. They are said to operate China's leading auto retail platform for luxury vehicles. Engaged in electric cars, want to develop them and they are said to be selling tens of thousands of them. Vehicles that don't even exist yet. If you look at the list of managers, there are hardly any "normal" employees. And nobody knows whether there are really 35? The supposedly leading retail platform cannot be found. Kaixin does not advertise it on its own website either. There isn't even a link.
Think so. And there is more about Kaixin here. And here Chinese Used Car Dealer Kaixin Auto Is Accused of Being a Sham too.
Kaixin Auto Holdings (NASDAQ:KXIN – Get Rating) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,340,000 shares, an increase of 52.6% from the April 30th total of 878,400 shares. Based on an average trading volume of 1,440,000 shares, the short-interest ratio is currently 0.9 days. Shares of NASDAQ KXIN traded up $0.02 during mid-day trading on Friday, hitting $0.87. The stock had a trading volume of 206,047 shares, compared to its average volume of 977,155. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 1.99. The company has a 50 day moving average of $1.05 and a two-hundred day moving average of $1.19. Kaixin Auto has a twelve month low of $0.78 and a twelve month high of $3.73.