Cango ( (CANG) ) just unveiled an announcement.
On March 14, 2025, Cango Inc. announced that its Board of Directors received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL) to gain control of the company through proposed transactions. These include acquiring shares from Cango’s co-founders, restructuring the board, and focusing on expanding the company’s crypto mining business outside China. A special committee has been formed to evaluate these proposals, but no definitive actions or agreements have been made yet.
More about Cango
Cango Inc. is a leading Bitcoin mining company headquartered in Shanghai, China, with operations across North America, the Middle East, South America, and East Africa. The company expanded into the crypto assets market in November 2024, driven by advancements in blockchain technology and the growing prevalence of crypto assets. Additionally, Cango has been operating an automotive transaction service in China since 2010.
YTD Price Performance: -34.26%
Average Trading Volume: 715,032
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $361.6M
See more data about CANG stock on TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com