Why DoYu Stock Jumped 16% on Thursday

·2 min read
Why DoYu Stock Jumped 16% on Thursday

Doyu International (NASDAQ: DOYU) shareholders beat the market in early trading on Thursday, with shares rising 16% by 11 a.m. The S&P 500 was up roughly 1.5% in that time. Shares surged on news that the Chinese video game streaming platform may be exiting the public markets. Tencent Holdings (OTC: TCEHY), which owns roughly 37% of DoYu's stock, is planning to take the company private in a deal sometime this year, according to Reuters.

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