Why Bilibili Is Bouncing 14% This Week
Shares of China's video, comics, and digital games venue Bilibili (NASDAQ: BILI) are on pace to end this week 14.4% higher than last Friday's close, as the fear linked to recent regulatory crackdowns abates.
Like a slew of other Chinese technology stocks including Alibaba Group Holding, DiDi Global, and Tencent Holdings (just to name a few), Bilibili shares have been falling for months as China's State Administration for Market Regulations clamps down on their operations. From February's peak to August's low, BILI stock lost 60% of its value.
The 33% rebound from that low to its current price near $86, however, suggests investors believe that sell-off was exaggerated and due for the very reversal they helped create.
Source Fool.com
