Information Provided By:
Fly News Breaks for February 19, 2020
BABA, CTK
Feb 19, 2020 | 12:36 EDT
KeyBanc analyst Hans Chung noted that Alibaba (BABA) reported in a 13-F filing last Friday that the company purchased about 2.58M ADS shares of CooTek (CTK) during the fourth quarter. He sees positive implications from Alibaba having accumulated about 4% of CooTek's shares outstanding, including the fact that this is further validation of the business model and overseas market position. Also, this could potentially open up a new opportunity as Alibaba "typically invests in companies with strategic value or potential synergy to its ecosystems," Chung tells investors. He maintains an Overweight rating on CooTek shares.
News For CTK;BABA From the Last 2 Days
CTK
May 11, 2021 | 05:03 EDT
CooTek announced its recent investment in Shanghai Lejiu Network Technology, or Lejiu, a mobile game studio that produces boutique mobile games. Through this investment, CooTek has further enhanced its cooperation with third-party corporate partners in the mobile game industry and expanded its pan-entertainment content ecology.