Stock Alert: Kingsoft Cloud Holdings Dips 11%

Shares of Chinese cloud platform services company Kingsoft Cloud Holdings Ltd (KC) are down 11 percent on Thursday's trading despite there being no company announcement or any other industry specific news to bring down the stock.

In May, the company had posted net loss of RMB382.2 million or $58.3 million, higher than RMB331.6 million in the same quarter last year.

Adjusted net loss was RMB218.4 million or $33.3 million, compared with RMB243.4 million a year ago. On a per share basis, net loss was RMB0.11 or $0.02, compared with RMB0.39 in the prior-year period.

Total Revenues reached RMB1.8 billion or $276.8 million from RMB1.4 billion in the same period of 2020.

Currently trading at $35.37, the stock has traded between $19.90 and $74.67 during the past 52 weeks.

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