NetEase up over 14% after strong earnings
NetEase the video game maker beat on earnings and the stock price is climbing.
It was expected $3.04/share in earnings but earned $3.43/share.
It has a couple of popular titles like, Onmyogi and Crusaders of Light both whose sales were strong.
They also recently announced plans to expand into e-commerce.
As Peter Lynch suggests, this could be a “diworseification” move. Hard to say for sure right now… some companies have made it work, like Amazon (AMZN:NASDAQ).