A level of support has emerged in the chart of Full Truck Alliance Co Ltd (YMM). The stock has bounced off that level a couple of times and appears to be heading back down to it again. If YMM falls through, a breakdown is expected. Read more to learn how to profit from this trade.Full Truck Alliance Co Ltd (YMM), through its subsidiaries, provides comprehensive services for shippers and truckers through its mobile and website platforms in China. The group derives its revenues principally from shippers' and truckers' use of its platforms in connection with freight matching services and value-added services.
The company is currently undergoing a cybersecurity review of its Yunmanman and Huochebang apps. In the latest quarter, YMM saw a significant increase in the number of fulfilled orders, up to 78.4% year over year. Going forward, the company is looking to sharpen its technological edge and broaden its logistics network.
The firm’s balance sheet looks solid as its current assets of $4.6 billion are much higher than its current liabilities. In the third quarter, revenue jumped 68.9% year over year to $192.7 million. Next year, sales are expected to rise 84.3%, while earnings are forecasted to surge 1,150%.