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This stock was first featured in August 2013 at $12.95 per share.
Bitauto Holdings Limited (BITA) provides Internet content and marketing services for the automotive industry primarily in the Peoples Republic of China.
The company operates in four segments: bitauto.com Advertising Business, EP Platform Business, taoche.com Business, and Digital Marketing Solutions Business.
The bitauto.com Advertising Business segment provides advertising services to dealers and automakers on its bitauto.com Website. The EP Platform Business segment provides Web-based integrated digital marketing and CRM applications to automobile dealers in China. This segments platform enables dealer subscribers to create their own online showrooms, list pricing and promotional information, provide dealer contact information, place advertisements, and manage customer relationships. It also offers third-party marketing applications that enable subscribers to launch their advertisement on third-party Websites. The taoche.com Business segment provides used automobile listing services under the Transtar brand name to automobile dealers and advertising services to automakers and automobile dealers. Its taoche.com Website allows consumers to navigate and select used automobile inventory from its database. The Digital Marketing Solutions Business segment provides one-stop digital advertising solutions, including online advertising, Website creation and maintenance, online public relations, and online marketing campaigns. The company also distributes its dealer customers' automobile pricing and promotional information through its partner Websites, including portals operated by Tencent and Netease, as well as social networking Websites, Renren and Kaixin.
In addition, it provides customer services and training to dealer customers.
Shares have formed a bullish "cup & handle" formation and higher share prices are expected for this stock. The firm is scheduled to report on March 6 its quarterly results. We are hearing rumors that the firm will post strong results, pushing shares higher out of this formation.
52-Week Trading Range: $8.56 - $41.09
Entry Point: $41.00
Stop Loss: $38.95
Target Price: $44.10
BITA has a huge momentum, thus we are raising our target price to $48.
BITA continues to fall. We are closing the position at $36.55. We strongly believe in the company however. Shares will set a new high before too long!
