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.

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Source Fool.com