Why Bilibili Shares Are Up 10%
Portfolio Pulse from Henry Khederian
Shares of Bilibili Inc - ADR (NASDAQ:BILI) are trading higher by 10% following strong earnings from PDD Holdings and measures taken by Chinese authorities to boost investor confidence, including a cut to taxes on stock trading. PDD Holdings reported a 66% YoY revenue growth to $7.21 billion, beating the consensus of $6.07 billion.
August 29, 2023 | 2:39 pm
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Bilibili shares are up 10% following strong earnings from PDD Holdings and investor-friendly measures by Chinese authorities.
Bilibili's stock price is rising due to strong earnings reported by PDD Holdings, which has a positive impact on Chinese stocks. Additionally, measures taken by Chinese authorities to boost investor confidence, such as a cut to taxes on stock trading, are also contributing to the rise in Bilibili's stock price.
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