Shares of 111, Inc. (YI) stock were continuing the rising momentum in the pre-market trading session after recording the gain of 0.91% at the previous closing. YI stock surged by 8.84% to reach $12.07 a share at the time of this writing. Let’s see the reason behind this bull.
It seems that momentum has been built for YI in the previous market despite the lack of particular news by the YI stock today or not even in this month. Also, there are no signs of analyst upgrade or upswing per share targeted price of the YI to justify the bull. Here are some previous recent activities by the YI stock.
YI partnership with Jianming Pharmaceutical
On March 25, 2021, YI announced the strategic cooperation agreement with Jianming Pharmaceutical for the development of an online chronic disease management platform. The purpose of developing this platform for Jianming Pharmaceuticals was to treat hepatobiliary diseases in China by offering and distributing Jianming Pharmaceutical’sliver and gallbladder medications to the patients initially in Fujian province and then to the whole country.
Financial Results of YI stock:
On March 18, 2021, YI announced its unaudited fourth quarter and fiscal year results of 2020 pursuant to which YI stock generated RMB2.64 billion revenue with a 96.1% increase year over year. The gross profit of YI in the fourth quarter surged by 143.7% to reach RMB103.6 million as compared to the same period of the prior year. Operating expenses in the fourth quarter for YI were RMB248.3 million representing a 17.9% YoY increase.
Total revenue for the fiscal year 2020 of YI was RMB8.20 billion which is 107.6% higher than the revenue of the previous year. Gross profit of RMB365.8 million showed 121.5% yearly improvement. Operating expenses for the whole year were RMB839.1 million with a 27.4% YoY increase.
YI stock has been hot among the investors as its stock price is continuously rising despite the absence of any news by the 111, Inc. Recent developments point to the overall growth of the stock, and a recent earning report proved that the YI stock has shown significant growth over the year. In a nutshell, YI stock can be a good bet for investors in the long run.