Why Cloopen Group Stock Just Popped

Shares of Cloopen Group Holding Limited (NYSE: RAAS), the Beijing-based provider of cloud-based communications, jumped 14.5% through 12:15 p.m. EDT after reporting a "sales beat" but an earnings miss early this morning.

Analysts had forecast that Cloopen would lose $0.02 per share on sales of about $40 million in Q2 2021. In fact, Cloopen's loss came to $0.05 per share, but its sales exceeded $42 million.  

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Source Fool.com