• Sun. Aug 14th, 2022

Here’s Why NetEase Shares Are Trading Up Premarket

ByAnusuya Lahiri

Jul 21, 2022
Here's Why NetEase Shares Are Trading Up Premarket

  • NetEase Inc NTES looks to release the most-awaited Diablo Immortal mobile game in China on July 25, a month after its initially scheduled launch date in the leading gaming market.
  • China’s most significant game company after Tencent Holding Ltd TCEHY won regulatory approval for the game co-developed with Activision Blizzard, Inc ATVI, following a controversial social media post that halted the rollout. 
  • deleted social media post interpreted as criticism of Chinese President Xi Jinping caused the delay in the game’s release.
  • Immortal garnered 10 million downloads in the first week after its international launch outside China on June 2.
  • After a month-long suspension, China resumed licensing in April, but Tencent and NetEase failed to win approval in the three batches of approved titles.
  • The update reflects relaxation in the Chinese regulatory environment as promised by the country lately.
  • Price Action: NTES shares traded higher by 4.68% at $98.60 in the premarket on the last check Thursday.



Image and article originally from www.benzinga.com. Read the original article here.