Why DouYu Is Down 15% Today
Shares of China's video game streaming platform operator DouYu International Holdings (NASDAQ: DOYU) are lower by 14.6% as of midday on Tuesday. The sell-off is in response to reports that its intended merger with the similar game-streaming and esports broadcast service from HUYA (NYSE: HUYA) -- orchestrated by Huya stakeholder Tencent Holdings (OTC: TCEHY) -- has been blocked by China's antitrust regulators.
Reuters broke the story, naming "people familiar with the matter" as sources. Given the country's recent string of antitrust efforts that similarly impacted China's ride-hailing service, DiDi Global (NYSE: DIDI), down more than 20% today itself, the report is credible.
Image source: Getty Images.
Source Fool.com
