Why Is Cheetah Net (CTNT) Stock Up 200% Today?

Parallel-import vehicle specialist Cheetah Net Supply Chain Service (NASDAQ:CTNT) — which sources popular automotive brands in the U.S. to be sold in China — is enjoying a dramatically positive swing higher in the market. Interestingly, the rise in CTNT stock comes amid disappointing company-specific news. On Monday, Cheetah posted its results for the first quarter, declaring that it sold 13 vehicles. This count compares very poorly to the year-ago quarter's tally of 82 vehicles. Further, Q1 2024 revenue re ...