Bitauto, Autohome soar to new highs

|About: Bitauto Holdings Limited (BITA)|By:, SA News Editor

Bitauto (BITA +11.4%) and rival Chinese online car marketplace Autohome (ATHM +12.4%) have soared to new highs on strong volume.

Shares of both companies have been buoyed this month by solid Q2 reports (I, II). Bitauto also received a lift from its plans to form a JV aimed at the high-end Chinese used car market.

Bitauto now +185% YTD. Autohome +52%.