Why Bilibili Stock Was Gaining Today
Shares of Bilibili (NASDAQ: BILI) were moving higher today even though there was no news out on the Chinese digital entertainment company. Instead, the stock seemed to surge on a "risk-on" day in the market, as treasury yields fell and investors piled back into tech stocks after a sell-off over the last few weeks.
As of 11:52 a.m. EST, Bilibili stock was up 10.2%, while the Nasdaq had jumped 3.4%. Chinese stocks were also surging, with the iShares MSCI China ETF up 3.8%.
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Source Fool.com
