New Agreement Sent This Stock Flying

New Agreement Sent This Stock Flying

By: Tomas Ronolski - News

Tuesday, December 6, 2022

A China-based real estate company caught the attention of traders on Tuesday following an announcement that the company signed a cooperation framework agreement with Quhuo Limited, a leading gig economy platform focusing on community-centered services in China.

According to the release, “under the Agreement, two parties will establish a continuing, stable and solid joint partnership and work together to provide their respective customers with integrated services across areas such as apartment rental, community service and platform development and expansion.”

This sent shares of FLJ Group Limited (Nasdaq:FLJ) soaring on Tuesday, reaching up to $1.63/share (+35.83%) at the session high. 

FLJ Group Ltd, formerly Q&K International Group Ltd is engaged in providing an apartment rental platform in China. The company leases apartments from landlords and transforms these apartments, into standardized furnished rooms to lease to people seeking residence in cities. It cooperates with third parties, including professional home service providers, e-commerce companies, and other service providers to facilitate value-added services for its tenants.

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