When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
Bitauto Holdings Limited American Depositary Shares (each representing one)
Following the announcement of a pending Bitauto (BITA) privatization by Tencent and Hammer Capital late last year, the stock generally held firm around the $16 per ADR offer price. However, recent market turmoil has collapsed the peg, with BITA stock now trading at $10.39 at the time of writing, implying significant upside from here, if an offer goes through. While an offer at $16 per ADR seems unlikely at this juncture, my base case remains for a privatization scenario in-line with pre-offer valuations (~7x earnings). Thus, there is still an opportunity for