Why Yalla Group Stock Continued Climbing Monday
From its late-September IPO debut to Nov. 9, shares of Arabic social networking company Yalla Group Limited (NYSE: YALA) climbed 54%, as investors bet big that Yalla's first-ever earnings report as a public company would be a blowout. Its stock price resumed climbing again last week, however, and on Monday that upwards trend gained greater strength, with Yalla stock up another 4.8% in 1:15 p.m. EST trading. Instead, news reports about Yalla are full of press releases from "investor rights" law firms suing Yalla for allegedly misleading investors about the effect issuing stock options would have upon its profitability in the third quarter of 2020.
