Aurora Mobile Ltd. JG shares,
more than doubled towards a two-year high in the active premarket on Friday, after the China-based mobile developer service provider announced a partnership agreement with Kuaishou Technology, rival TikTok supported by China-based technology giant Tencent Holdings Ltd. TCEHY,
to improve the efficiency of advertising monetization. Kuaishou went public in Hong Kong on Friday, with shares nearly tripling in its debut. Aurora Mobile’s shares rose 123% in volume from 7.8 million shares before opening, compared to the full-day average of around 683,000 shares. The company said its software-as-a-service (SaaS) advertising services will allow Kuaishou to help brands and advertisers reach potential customers, improve conversion rates and cut costs. Aurora shares had more than doubled (up 123.6%) in the past three months through Thursday, while iShares MSCI China ETF MCHI,
had gone up 11.5% and the S&P 500 SPX,
gained 10.3%.
