Source: CHIARI VFX / Shutterstock
Huadi International (NASDAQ:HUDI) stock is climbing higher on Thursday even without specific news from the Chinese steel company.
What appears to be behind today’s movement is a reignited interest in Chinese stocks from investors. This has several companies in the sector seeing wild rallies today with ending Covid-19 restrictions as part of the reason for them.
The other part comes from Alibaba’s (NYSE:BABA) Ant Group. Approval from the Chinese government yesterday allows for increased financing of the company. That’s another positive sign for investors in Chinese stocks and is helping with today’s rally.
What This Means for HUDI Stock
Today’s rise is nothing to ignore and investors will want to keep an eye on the stock in the coming days. It’s possible the steel company’s shares could see a return to form and regain much of the ground lost over the last year. On the flipside of that, investors will want to watch for a dip, which could follow today’s rally.
With that in mind, HUDI stock is seeing heavy trading today. As of this writing, more than 2.7 million shares of the stock have changed hands. That’s well above the company’s daily average trading volume of about 1.1 million shares.
HUDI stock is up 30.3% as of Thursday afternoon.
Investors seeking more of the latest stock market news will want to stick around!
We’ve got all of the most recent stock news traders need to know about on Thursday! Among that is what has shares of Magic Empire Global (NASDAQ:MEGL) stock, NovoCure (NASDAQ:NVCR) stock, and Western Digital (NASDAQ:WDC) stock on the move today. You can catch up on all that news at the following links!
More Thursday Stock Market News
- Why Is Magic Empire Global (MEGL) Stock Up 83% Today?
- NovoCure (NVCR) Stock Soars 50% on Positive Clinical Trial Results
- Western Digital (WDC) Stock Pops on Revived Merger Talks
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.