Baron Funds Expects Huge Revenue Growth for Full Truck Alliance Co. Ltd. (YMM)

Baron Funds, an asset management company, released its “Baron International Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund underperformed its benchmark index declining 16.18% in the second quarter compared to a 13.73% decline for the MSCI ACWI ex USA Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Full Truck Alliance Co. Ltd. (NYSE:YMM) in the second quarter investor letter. Based in Guiyang, China, Full Truck Alliance Co. Ltd. (NYSE:YMM) is a digital freight platform. On September 8, 2022, Full Truck Alliance Co. Ltd. (NYSE:YMM) stock closed at $6.63 per share. One-month return of Full Truck Alliance Co. Ltd. (NYSE:YMM) was -11.95% and its shares lost 61.36% of their value over the last 52 weeks.  Full Truck Alliance Co. Ltd. (NYSE:YMM) has a market capitalization of $7.349 billion.

Here is what Baron Funds specifically said about Full Truck Alliance Co. Ltd. (NYSE:YMM) in its Q2 2022 investor letter:

“Full Truck Alliance Co. Ltd. (NYSE:YMM) is the largest digital freight platform in the world. Shares of the China-based company rallied after a cybersecurity review greenlighted the use of its Apps to add new user registrations. We remain investors. Digital platform penetration into China’s four trillion RMB full truck-load market is still just in the single digits. We see major upside based on the expected rollout of transaction commissions to truckers from the current 6% market penetration and less than 1% take rate, and we expect revenue to grow at 50% CAGR over the next five years.”

Pixabay/Public Domain

Full Truck Alliance Co. Ltd. (NYSE:YMM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Full Truck Alliance Co. Ltd. (NYSE:YMM) at the end of the second quarter which was 18 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.