Why Weibo Stock Jumped Today

Chris Neiger, The Motley Fool

30 September 2020 at 3:09 pm·2-min read

Shares of Weibo (NASDAQ: WB), a China-based messaging and content app, spiked today as investors likely reacted to news about September growth in China's economy. The latest manufacturing data for China was released today and showed that the country's manufacturing purchasing index rose to 51.5 in September, higher than the 51.2 forecast by economists. Any figure above 50 indicates that the sector is expanding and a growing manufacturing industry shows that China's economy may be rebounding from the economic effects of the coronavirus.

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