Tuya Inc.'s stock experienced a remarkable surge of 7.19% in the intraday trading session on Wednesday, fueled by a bullish recommendation from renowned U.S. investment bank Morgan Stanley.
Morgan Stanley analysts expressed confidence in Tuya's prospects, urging investors to buy the Chinese artificial intelligence (AI) company's shares. The investment bank's positive outlook on the AI firm, citing its potential in the rapidly growing AI industry, drove the stock to surge on Tuesday and continued its upward momentum on Wednesday.
The AI sector has garnered increasing attention and investment from tech giants and financial institutions alike, likely contributing to Morgan Stanley's optimistic view on Tuya Inc.'s future. As investors reacted favorably to the bullish stance, the company's stock skyrocketed, reflecting the market's enthusiasm for Tuya's growth potential in the burgeoning AI landscape.
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