Why NetEase Stock Jumped 16.6% in November
Shares of NetEase (NASDAQ: NTES) leapt nearly 17% last month, according to data provided by S&P Global Market Intelligence. The Chinese video game company announced plans to expand its e-commerce operations and delivered strong third-quarter results.
NetEase's upward move kicked into high gear following reports that the company was ramping up its spending on foreign products to sell to Chinese consumers as a means of fueling the growth of its promising Kaola e-commerce business. NetEase expects to invest about $11 billion into inventory from the U.S., Europe, and Japan over the next three years, in addition to billions more in product purchases from other countries.
NetEase is investing aggressively in its rapidly growing e-commerce business. Image source: Getty Images.
Source: Fool.com
Netease Inc. ADR Aktie
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