TUYA - Tuya's Losses Narrow But Stock Still Looks Pricey
2024-03-12 12:40:00 ET
Summary
- Tuya’s revenue jumped 42.2% in last year’s fourth quarter, with its platform as a service business as the biggest contributor.
- The company’s stock could be vulnerable if major shareholder Tencent decides to sell down its stake, or if the company gets caught in a flareup of China-U.S. tensions.
- Despite its stock gains last year, Tuya shares still trade about 20% below the HK$19.30 price for the company’s Hong Kong listing in 2022, which complemented its listing in New York a year earlier.
The Internet of Things services provider's gross margin hit a record high last quarter and its loss narrowed on strong performance for its platform as a service business ...
Tuya's Losses Narrow, But Stock Still Looks Pricey