Chinese tech company Q&K International Group Limited (NASDAQ:QK), which operate a long term apartment rental platform in China, emerged as a surprise gainer yesterday. The Q&K International stock went up by as much as 13% yesterday despite there being no news about the company.
However, considering the magnitude of the gains, it could be a good idea to take a closer look at the company. The last major news in relation to Q&K International emerged on April 22 when the company announced that a director of the company, Bing Xiao, had resigned. The resignation went into effect on that very day.
However, at the same time, the company also stated that Xiao did not have any disagreement with Q&K International but decided to resign from his position as a director due to personal reasons. In recent times, Q&K International has emerged as notable name in the tech sector in China. It is involved in providing young urban people to move into furnished apartments located in convenient areas in Chinese cities.
The company has considerably expertise in mobile technologies and IT, which it has deployed to manage the rental apartments that it offers in the different cities in China. It remains to be seen if any news emerges about the company this week.
Market Reaction:
On Tuesday, QK stock went up 13% to $1.48 with more than 1.48 million shares, compared to its average volume of 545k shares. The stock has moved within a range of $1.3400 – 1.5800 after opening the trade at $1.34. Over the past 52-week, the stock has been trading within a range of $0.9700 – 11.0000.
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