Why Kingsoft Cloud Holdings Stock Is Skyrocketing
Portfolio Pulse from Henry Khederian
Kingsoft Cloud Holdings Ltd (NASDAQ:KC) shares are trading higher by 19.96% to $5.35 following a positive private survey indicating growth in factory activity during May. The Caixin manufacturing PMI climbed to 50.9 from 49.5 in April, positioning the index above the critical 50 level. This has led to an upward trend in trading for Chinese companies.
June 01, 2023 | 7:13 pm
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Kingsoft Cloud Holdings Ltd (NASDAQ:KC) shares are trading higher by 19.96% to $5.35 following a positive private survey indicating growth in factory activity during May.
The positive private survey indicating growth in factory activity during May has led to an upward trend in trading for Chinese companies, including Kingsoft Cloud Holdings Ltd. This has resulted in a 19.96% increase in their share price, making it likely for the stock to continue its upward trajectory in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100