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Benzinga
Benzinga
Politics
Anusuya Lahiri

Read Why Bilibili Shares Are Soaring In Premarket

BILI Bilibili JPMorgan BABA (Organization) Nasdaq Alex Yao Alibaba Group Holding Ltd Bilibili Inc China Hong Kong Stock Exchange
  • Bilibili Inc's (NASDAQ:BILI) board approved the company to pursue the voluntary conversion to dual-primary listing on the Hong Kong Stock Exchange.
  • Bilibili would continue to trade on both the HKSE and Nasdaq.
  • Recently, JPMorgan analyst Alex Yao downgraded Bilibili to Underweight from Overweight with a $15 price target (20.5% downside).
  • JPMorgan downgraded the Chinese tech sector, including Alibaba Group Holding Ltd (NYSE:BABA), after a massive industry-wide selloff following growing geopolitical risks and macro concerns, including a domestic regulatory crackdown on the tech sector.
  • The Chinese tech stocks traded higher premarket as China assured stability in capital markets.
  • Price Action: BILI shares traded higher by 29.9% at $24.50 in the premarket on the last check Wednesday.
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