We recently compiled a list of the 10 Stocks Lead Wednesday’s Charge, Mirror Broader Gains. In this article, we are going to take a look at where KE Holdings Inc. (NYSE:BEKE) stands against the other stocks.
US shares stayed firmer on Wednesday, with all major indices finally eking out gains as President Donald Trump softened on trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms also mirrored the broader optimism, posting strong gains during the day. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
Aerial shot of a modern real estate development with residential homes.
KE Holdings Inc. (NYSE:BEKE)
KE Holdings Inc. (NYSE:BEKE) grew its share prices by 9.23 percent on Wednesday to close at $24.38 apiece as investors repositioned their portfolios ahead of the release of its latest earnings performance in the next few days.
KE Holdings Inc. (NYSE:BEKE), an integrated online and offline platform for housing transactions and services in China, said that it would announce its unaudited financial results for the fourth quarter and full year 2024 before the market opens on Tuesday, March 18.
Just recently, KE Holdings Inc. (NYSE:BEKE) earned a ‘strong buy’ rating and a price target of $22.1 from HSBC Global Research, as the company stands to benefit from the booming Chinese real estate market, with 10 signs already showing that it has bottomed out.
According to HSBC, this includes year-on-year growth in new home sales, recovery in housing prices, price expectations reset, a surge in land sales, and foreign investment participation.
It also said that the market experienced continued housing completions, easier access to credit for developers, higher household risk appetite, gradual clearing of real estate inventory, and rental yields becoming more attractive compared to government bond yields.
Overall KE ranks 9th on our list of Wednesday’s top gainers. While we acknowledge the potential of KE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KE but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.