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.

Image source: Getty Images.

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Source Fool.com