Uxin filed for their IPO back in 2018 when the company also started to trade publicly, officially going live within a first trade on June 27th, 2018, the same say when EverQuote (EVER) company went live with their IPO.
Even though EverQuote and Uxin belong to a similar sector, having Uxin representing e-commerce company for used cars and EverQuote selling car insurance. However, EverQuote had a way more successful IPO than Uxin as the e-commerce platform for used cars started at 9$, lower than the intended price between the value of 10.50$ and 12.50$, taking into consideration that car insurance companies appear to be more attractive to investors in oppose to the market of used cars.
The company was approved for a listing on Nasdaq under the thicker (UXIN), having its IPO valued at 3.5 billion dollars, while private valuation of Uxin IPO was previously set between 1 billion and 2 billion dollars.
How Well is Uxin Doing in the Market? Is Investing in UXIN Shares Profitable?
Metrics behind Uxin don’t look quite in favor of the company, as UXIN shares went far below the opening price of 9$, which also represented a low in oppose to the previously expected price range per share.
The share is following a downward path for quite some time, however, the price additionally plummeted at the beginning of 2019 in January when UXIN touched a new low of around 3$.
The shares have surged to 4$ since than by the time April 2019 arrived, however, the shares are still traded in the red, threatening to go below the value of 4$ once again.
Uxin also published unaudited reports for fourth quarter and full-year 2018, stating that the fourth quarter revenues increased by 61% to 165.6 million dollars year to year.
Additionally, transaction volume for 2C business increased by 93.6% year to year, while the volumes for 2B business decreased, marking a year to year drop by -37.1%.