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Why Changyou.com Stock Soared Monday

TheMotleyFool

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American depositary shares of Changyou.com (NASDAQ: CYOU) skyrocketed on Monday. The video game development specialist saw its stock rise as much as 56%. As of 1:33 p.m. EDT, the stock was up 48.2%.

The stock's gain follows news that the tech company received a preliminary nonbinding proposal letter from Sohu.com to acquire all remaining outstanding shares of the company as part of a deal that would value each of Changyou.com's American depositary shares (ADSs) at $10.

Image source: Getty Images.

Source Fool.com

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