NetEase Stock Price Surged in Light of Robust Gaming Business
Jul 07, 2016, 14:00 ET
SAN FRANCISCO, July 7, 2016 /CNW/ -- On Thursday, June 30, 2016, NetEase (NASDAQ: NTES) stock surged 6.47%, or $11.74, to reach $193.22 with a market capitalization of $25.43 billion.
Since the beginning of 2016, several global brokerages issued research notes that maintained the BUY rating of NetEase, while raising estimated price target. Despite volatile macro environment, NetEase remains one of the best performing stocks traded in the U.S., up 46% year to date.
A robust games business is being attributed as a key driver behind the recent increase in the NetEase stock price. At this year's Electronic Entertainment Expo (E3) in Los Angeles, NetEase Games premiered several new games including Tianxia, Evercraft, and Flying Daggers, expanding its game development pipeline to positive reaction from industry insiders, partners, and consumers.
At its recent VIP Conference during the E3, NetEase Games highlighted the company's commitment to continue making high quality mobile and PC games, with localized operations at its core. Also shared at the VIP Conference were previews of additional new mobile games including Great Voyage, an upcoming massively multiplayer online game set in the great age of maritime discovery, and Spark of Space, a sci-fi title that integrates simulation and real-time strategy elements, with graphics that push the limits of mobile devices.
About NetEase, Inc.
NetEase, Inc. (NASDAQ: NTES) is a leading Internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates some of China's most popular online PC and mobile games, advertising services, email services and e-commerce platforms. In partnership with Blizzard Entertainment, NetEase operates some of the most popular international online games in China. To learn more about NetEase, visit: http://ir.netease.com/
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SOURCE NetEase Games
For further information: NetEase Games, [email protected]; Sharon Hu, NetEase Games PR Dept., +86-20-8510-5420, [email protected]
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