Why Weibo Stock Jumped Today
Shares of Weibo (NASDAQ: WB), a China-based messaging and content app, spiked today as investors likely reacted to news about September growth in China's economy.
Weibos' stock was up by as much as 10.4% today but had gained 9.3% as of 2:34 p.m. EDT.
The latest manufacturing data for China was released today and showed that the country's manufacturing purchasing index rose to 51.5 in September, higher than the 51.2 forecast by economists. Any figure above 50 indicates that the sector is expanding and a growing manufacturing industry shows that China's economy may be rebounding from the economic effects of the coronavirus.
Source Fool.com
