Why Wanda Sports Stock Jumped Today
Shares of Wanda Sports (NASDAQ: WSG) jumped today, up by 11% as of 2:15 p.m. EST, after the company said it plans to delist from the Nasdaq but was launching a tender offer to buy out its American Depositary Shares (ADSs) that trade in the U.S. The offering price is at premium to current levels.
Wanda Sports, which operates a sports events, media, and marketing platform in China, is terminating its ADS deposit agreement and delisting its stock.
Source Fool.com