Chinese digital freight transport platform, Full Truck Alliance Co. Ltd. (YMM), is trading 7% higher on the market on Tuesday marking its highest peak in the past three months. The company has not reported any stock-specific news to boost the stock.
Chinese stock are slowly gaining ground since the Central Bank of China granted the Ant Group permission to create a shell company. This has given the investors the confidence to believe that the government crackdown on the Chinese companies listed in the US has finally halted.
The stock is currently trading at $9.19, up $0.59 or 6.86% since the previous close at $8.60. The stock opened at $8.99 in the morning. In the 52-week period, the shares have ranged between $4.12 and $21.50.
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