Why NetEase Stock Is Rising This Week
The stock of veteran Chinese tech company NetEase (NASDAQ: NTES) has been coasting over the past few days. As of market close on Thursday it was up nearly 15% from the end of last week on the back of news from a subsidiary and subsequent positive coverage from a pair of analysts following the stock.
The subsidiary in question is education services provider Youdao, which announced late last week that it will no longer offer after-school tutoring services for subjects in the national curriculum. It's making this change, in its words, "as part of its efforts to fully comply with applicable [Chinese] regulatory requirements."
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Source Fool.com