Why Lizhi Stock Skyrocketed Today

Shares of Lizhi (NASDAQ: LIZI) soared 70% on Thursday, furthering the torrid rally in the Chinese audio entertainment company's stock price in recent days.

On Thursday morning, Lizhi said it struck a deal to create a branded podcast channel for Pop Mart, a leading toy designer and retailer in China. It will mark the first such channel on the company's new Lizhi Podcast mobile app. 

"Branded podcast is a new way of branding and this collaboration is an attempt of Pop Mart to use a different medium to increase its brand awareness among its audience," Lizhi CEO Jinnan (Marco) Lai said in a press release. "Lizhi looks forward to collaborating with more enterprises and brands in the future to help them reach new audiences, increase brand awareness, and engage their users with curated podcast content." 

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Source Fool.com