Did Full Truck Alliance provide guidance for the remainder of 2025, and what are the implications for its valuation?

Guidance:

The press release only covers the unaudited Q2 2025 results; there is no forward‑looking statement or revenue/EBITDA guidance for the rest of 2025. Full Truck Alliance (NYSE: YMM) therefore did not provide guidance for the balance of the year.

Valuation implications:

* Increased uncertainty: Without a 2025 outlook, investors lack a benchmark for growth trajectory, earnings momentum, and cash‑flow expectations. This uncertainty typically translates into a higher risk premium and a modest compression of the forward‑P/E and EV/EBITDA multiples relative to peers that do issue guidance.

* Short‑term price pressure: The market will likely price‑in the “no‑guidance” signal by widening the bid‑ask spread and prompting a short‑term pull‑back, especially on the technical side where the stock is currently testing the Q2‑2025 earnings‑beat level near the 20‑day SMA. Momentum traders may see a brief downside‑bias until the next guidance‑‑bearing event (e.g., the Q4 earnings call or a FY‑2025 update).

* Long‑term upside potential: If the Q2 results show a strong top‑line growth and improving unit‑economics, the lack of guidance could be a temporary “information gap.” Once the company releases a full‑year outlook—likely in the Q4 earnings release—valuation could rebound sharply, rewarding investors who hold through the interim volatility.

Actionable take‑away:

* Short‑term: Consider a modest short‑position or a tight‑‑stop‑loss if you are risk‑averse, as the stock may face 2‑4 % downside on the “no‑guidance” news.

* Mid‑term: If you can tolerate short‑term volatility, accumulate on dips (around the 20‑day SMA) with a view to capture upside when FY‑2025 guidance is finally issued, as the upside‑bias could re‑establish a higher valuation multiple.