Kuaishou Reacts to Initiate Legal Proceedings in Case Involving Fabricated Research Report
News released by We Media sparked a market shock on Monday. Kuaishou shares in Hong Kong slumped heavily due to the rumor, at one point falling below the issue price of HK$115 in late trading.
Reportedly, brokerage firm Morgan Stanley has recently lowered the target price of Kuaishou from HK $300 per share to HK $50 per share.
Due to th…
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