Why China Evergrande Group Stock Popped 16% Today
Shares of embattled Chinese property developer China Evergrande Group (OTC: EGRN.F) got a bit of a reprieve on Wednesday, rising as much as 15.8% as of 2:55 p.m. ET. (Take that share price with a grain of salt, though, because it's bouncing around quite a bit. Closer to noon today, for example, the stock was actually down about 5%!)
Whether the stock finishes the day up or down, moreover, will probably depend on how investors react to Evergrande's latest news.
Image source: Getty Images.
Source Fool.com
