Kingsoft Cloud (KC) Stock: Why The Price Surged Today

By Amit Chowdhry ● Mar 16, 2022
  • The stock price of Kingsoft Cloud Holdings Limited (Nasdaq: KC) increased by over 42% pre-market today. This is why.

The stock price of Kingsoft Cloud Holdings Limited (Nasdaq: KC) increased by over 42% pre-market today. Investors are responding positively to the Chinese government vowing to keep markets stable — which soothed overseas investors following a selloff due to concerns about the differences between China and the West in terms of the Russia-Ukraine war.

China’s Vice Premier Liu He said the government would be rolling out support for the economy and keep markets stable. Other stocks that also saw an uptick today include Alibaba, Pinduoduo, NIO, NetEase, and IQIYI.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.