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Cheetah Net Supply Chain Service (CTNT) stock has tumbled to a 52-week low, with shares dropping to $1.69. According to InvestingPro data, the stock’s RSI indicates oversold conditions, while trading at just 0.34 times book value. The company maintains strong liquidity with a current ratio of 14.86. This latest price level reflects a precipitous fall from grace for the logistics company, which has seen its stock value erode by an alarming 94.66% over the past year. The company’s revenue has contracted by 81.71% over the last twelve months, though InvestingPro analysis suggests the stock may be slightly undervalued at current levels. Investors have been wary of the challenges facing the supply chain sector, and CTNT’s performance has been significantly impacted by these industry headwinds. The company’s struggle to maintain its footing in a competitive market has been starkly illustrated by this new low, raising concerns about its future prospects and strategy for recovery.
In other recent news, Cheetah Net Supply Chain Service Inc. has made significant changes to its board of directors. The company announced the appointment of Mr. Xiangan Ruan as a new director. Ruan, who has been a senior partner at Allbright Law Offices in Shanghai since 2005, brings extensive legal expertise to the board. Along with his director role, he will join the Audit and Compensation Committees and chair the Nominating and Corporate Governance Committee. This appointment aims to enhance the company’s governance and leadership.
In a related development, Cheetah Net reported the resignation of board member Adam Eilenberg, effective December 2, 2024. The company clarified that Eilenberg’s departure was not due to disagreements with the company’s operations or policies. The board is actively seeking a replacement to fill the vacancy left by Eilenberg. Investors are watching closely to see how these changes might influence the company’s strategic direction.
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