Why BeiGene Stock Soared 33.7% on Wednesday

BeiGene (NASDAQ: BGNE), a Chinese biopharmaceutical company, saw its shares rise 33.7% on Wednesday. The stock closed at $146.52 on Tuesday but opened at $175.82 today and rose as high as $195.95 in the first hour of trading. So far this year, the stock is still down more than 45%.

Image source: Getty Images.

There were three reasons for the bounce, one related to the overall market and the other two associated directly with BeiGene.

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Source Fool.com