Stock Track | Tuya Inc. Soars 6.21% in Pre-market on Strategic Investment and Growth Prospects

Stock Track

2024-11-18

Tuya Inc. (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, witnessed a significant pre-market surge of 6.21% on Monday, driven by the announcement of a strategic investment and positive growth prospects.

The stock's bullish momentum stemmed from the definitive agreement for a strategic investment by 65 Equity Partners, an independently managed investment platform owned by Temasek. The firm acquired an approximate 13% stake in Tuya by purchasing shares from New Enterprise Associates (NEA).

This strategic investment not only demonstrates confidence in Tuya's vision and competitive positioning but also aligns with the company's international expansion strategy, particularly in the fast-growing Southeast Asia market. Jerry Wang, Founder and CEO of Tuya, expressed excitement about the partnership, stating that it offers possibilities for a future additional listing on the Singapore Exchange (SGX), further enhancing Tuya's presence in global capital markets.

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Soars 6.21% in Pre-market on Strategic Investment and Growth Prospects\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-18 19:58</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tuya Inc. (NYSE: TUYA; HKEX: 2391), a global leading cloud platform service provider, witnessed a significant pre-market surge of 6.21% on Monday, driven by the announcement of a strategic investment and positive growth prospects.</p>\n<p>The stock's bullish momentum stemmed from the definitive agreement for a strategic investment by 65 Equity Partners, an independently managed investment platform owned by Temasek. 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