Why Cheetah Stock Soared Friday Morning
Shares of Cheetah Mobile (NYSE: CMCM), an internet company that owns a variety of internet properties, soared Friday morning. The stock rose as much as 94%. But as of 12:50 p.m. ET, shares were up closer to 10%.
The stock was so volatile on Friday that the New York Stock Exchange paused its trading a handful of times.
Shares have been volatile recently because the company announced a reverse split of its American depositary shares (ADSs) that was effective today.
Source Fool.com