Weibo Corporation (NASDAQ: WB), the Chinese social media giant, saw its stock soar 5.04% in pre-market trading on Friday. This significant uptick comes amidst a broader rally in Chinese ADRs and following the company's announcement of its upcoming Annual General Meeting (AGM).
The surge in Weibo's stock aligns with the overall positive performance of Chinese ADRs in recent trading sessions. Investor sentiment has been bolstered by U.S. President Donald Trump's more conciliatory tone on trade negotiations with China. During a Cabinet meeting, Trump expressed his desire to reach a trade deal, potentially easing the ongoing tensions between the two economic powerhouses. This softer stance has sparked optimism among investors, leading to gains across various Chinese tech stocks listed on U.S. exchanges.
Additionally, Weibo announced that it will hold its Annual General Meeting on May 20, 2025, in Hong Kong. The company will consider and pass proposed resolutions during this meeting, which may have contributed to investor confidence. The AGM announcement, coupled with the broader market optimism surrounding Chinese stocks, appears to have created a perfect storm for Weibo's pre-market rally. As the trading day unfolds, investors will be closely watching to see if this momentum can be sustained.
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