Why Sohu.com Stock Popped 21% Today
A decade ago, Chinese internet company Sohu.com (NASDAQ: SOHU) spun off its Changyou.com video gaming arm in an IPO of the latter. Last year, with Sohu struggling to report a profit, the company reversed course and proposed to reabsorb its subsidiary (although it will be technically a "private" company).
Today, that merger became official -- and Sohu stock is up 21.2% as of 3 p.m. EDT.
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Source Fool.com
