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YMM - Full Truck Alliance: Spotlight On Higher Costs
Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A)
2024-03-10 21:52:18 ET
Summary
Full Truck Alliance's actual Q4 2023 operating profit missed the market's expectations due to a significant increase in sales and marketing expenses.
Moving forward, Full Truck Alliance sees its top line expanding by +25% YoY in Q1 2024, but it also anticipates making meaningful investments in sales and marketing this year.
I maintain my Hold rating for YMM, after assessing its revenue growth and operating profitability outlook.
Elevator Pitch
I rate Full Truck Alliance Co. Ltd. ( YMM ) stock as a Hold. Previously, I wrote about YMM's near term financial prospects and its long term financial targets in my June 20, 2023 initiation article ....