Why Shares of NetEase Inc. Surged Today
Shares of Chinese video game publisher and e-commerce specialist NetEase Inc. (NASDAQ: NTES) jumped on Monday following reports that the company was increasing its spending on foreign products to sell to Chinese consumers. The stock finished the day up 10.4%.
NetEase's Kaola e-commerce business expects to buy about $11 billion worth of inventory from the U.S., Europe, and Japan over the next three years, with purchases from Australia and South Korea likely adding to that total. The company is looking to harness established international brands to grow its presence in the Chinese e-commerce market.
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Source: Fool.com
Netease Inc. ADR Stock
€92.50
1.090%
Netease Inc. ADR is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
As a result the target price of 119 € shows a positive potential of 28.65% compared to the current price of 92.5 € for Netease Inc. ADR.
