What's Going On With Cheche Group Stock?

Cheche Group Inc. CCG shares are trading higher Wednesday. The company is set to report its first-quarter financial results Thursday before the bell. 

What To Know:

Earlier in May, Cheche Group announced it entered into an exclusive partnership with Volkswagen (Anhui) Digital Sales and Services Co., Ltd., as the company's exclusive service provider of NEV insurance business. 

“China’s new energy vehicles have achieved such phenomenal success,” said Lei Zhang, CEO of Cheche. “As the exclusive service provider for Volkswagen Anhui’s NEV insurance business, we are committed to creating value for clients through our platform and look forward to working with our new energy vehicle partners to innovate, scale, and provide industry-leading solutions.”

The company is set to report its first-quarter financial results Thursday before the bell and will host a conference call to discuss the results at 8:00 a.m. ET. Cheche reported losses of 1 cent per share and revenue of $122.224 million in the previous quarter. 

Cheche Group is China’s independent technology-empowered platform for auto insurance transaction services for digital auto insurance transaction premiums and insurance technology companies. 

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How To Buy CCG Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Cheche Group's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CCG Price Action: According to Benzinga Pro, Cheche Group shares are up 7.5% at $1.43 at the time of publication Wednesday.

Image: Gerd Altmann from Pixabay