Cango ( (CANG) ) has issued an announcement.
On March 13, 2025, Cango Inc. announced a new share repurchase program, allowing the company to buy back up to US$30 million worth of its American depositary shares and/or Class A ordinary shares over the next 12 months starting April 25, 2025. This move follows a previous repurchase program from April 2024, under which Cango repurchased 996,640 ADSs for approximately US$1.7 million. The new program aims to optimize the company’s capital structure and reflects its confidence in its business prospects.
More about Cango
Cango Inc. is a leading Bitcoin mining company based in Shanghai, China, with operations in North America, the Middle East, South America, and East Africa. The company expanded into the crypto assets market in November 2024 and has been operating an automotive transaction service in China since 2010.
YTD Price Performance: -33.86%
Average Trading Volume: 724,960
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $348.5M
For a thorough assessment of CANG stock, go to TipRanks’ Stock Analysis page.