Kuaishou Technology (OTCMKTS:KUASF) Shares Up 27% – Here’s Why

Kuaishou Technology (OTCMKTS:KUASF) rose 27% during trading on Wednesday . The company traded as high as $11.00 and last traded at $11.00. Approximately 325 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,650 shares. The stock had previously closed at $8.66.

Kuaishou Technology Trading Up 27.0%

The firm has a 50-day simple moving average of $8.85 and a two-hundred day simple moving average of $9.24.

Kuaishou Technology Company Profile

Kuaishou Technology is a leading social media and technology company best known for its short-form video and live-streaming platforms. Founded in 2011 and headquartered in Beijing, the company operates a suite of mobile applications that enable users to create, share and interact through user-generated video content. Over the years, Kuaishou has expanded its offerings to include live commerce features, allowing content creators to sell products directly during live broadcasts and fostering a vibrant ecosystem of merchants, influencers and viewers.

The company’s flagship app serves hundreds of millions of daily active users primarily in Mainland China, where it competes with other major short-video platforms.