Why China Evergrande Group Stock Soared 40% Today

After barely making one debt payment last week, and apparently missing another, China Evergrande Group (OTC: EGRN.F) got a reprieve Wednesday -- even as rumors swirled that the company may have missed a third payment today.

In 1:25 p.m. EDT trading, shares of the beleaguered Chinese property behemoth are up 40.8%.

Image source: Getty Images.

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Source Fool.com