What's Going On With DouYu International Holdings Stock
Portfolio Pulse from Henry Khederian
DouYu International Holdings Ltd (NASDAQ:DOYU) shares fell by 4.1% to $17.21 after the company announced a special cash dividend of $300 million, payable on August 30, 2024. Despite the dividend, Wall Street analysts remain neutral on the stock, with Citigroup's Brian Gong predicting an 8.33% fall in the coming year. The stock has risen 118% in the past three months, despite a 33.32% drop in revenue over the past year.
July 05, 2024 | 3:02 pm
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DouYu International Holdings Ltd shares fell by 4.1% to $17.21 after the company announced a special cash dividend of $300 million. Despite the dividend, analysts remain neutral on the stock, with Citigroup predicting an 8.33% fall in the coming year. The stock has risen 118% in the past three months, despite a 33.32% drop in revenue over the past year.
The announcement of a special cash dividend typically signals a positive return to shareholders, but the immediate drop in share price suggests that investors may be concerned about the company's future prospects. Additionally, the neutral stance from analysts and a bearish outlook from Citigroup further contribute to a negative short-term impact.
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