Short interest for NetEase gives investors a sense of the degree to which investors are betting on the decline of NetEase's stock. Short interest data is updated every two weeks.

NetEase Stock (NASDAQ:NTES), Short Interest Report

NetEase

NetEase, which started on an internet portal service in 1997, is a leading online services provider in China. Its key services include online/mobile games, cloud music, media, advertising, email, live streaming, online education, and e-commerce. The company develops and operates some of the China's most popular PC client and mobile games, and it partners with global leading game developers, such as Blizzard Entertainment and Mojang (a Microsoft subsidiary).

Asia

Gaming

Penny Stocks

Small Cap

Markets

Tech

General

CMGEF

HUYA

NTES

Key Takeaways:


	CMGE said it has formed a partnership with Guangzhou Chaojing Investment aimed at tapping the latter’s strong position in e-sports
	CMGE’s shares rose 3.2% on the news and have rallied 30% in the past week on renewed investors interest in the gaming sector after a prolonged crackdown that is now easing




CMGE Turns Its Game To e-Sports With New Tie-Up

3_Images_style_(1)

Entertainment

MSFT

The duo behind World of Warcraft and other beloved games will make a comeback, following a year of negotiations.

China Welcomes Back World Of Warcraft As Blizzard, NetEase Reach Agreement

city-6156596

News

NetEase shares closed higher by 3.8% for Tuesday&#39;s session. The stock gained following a report suggesting the company and Blizzard Entertainment are expected to announce a new deal.

Why NetEase Stock Is Seeing Blue Skies

NetEase, Inc. - American Depositary Shares, each representing 5 ordinary shares

NetEase Inc

WIIM

BABA

BEKE

TCOM

Shares of US-listed Chinese stocks are trading higher, possibly amid the Labor Day Golden Week.

BIDU

BILI

FUTU

HTHT

MNSO

Citigourp Global Markets 2% Protected Notes Linked To The Djia

YUMC

Shares of US-listed Chinese stocks are trading higher amid the start of the Labor Day Golden Week. Wednesday's Fed decision and strong deliveries from EV makers may also be lifting Chinese stocks on Thursday.

Shares of US-listed Chinese stocks are trading lower amid overall market uncertainty ahead of the upcoming Fed decision. The recent TikTok bill may also be raising US-China tensions.

<h4>Key Takeaways:</h4>
<ul>
<li>CMGE said it has formed a partnership with Guangzhou Chaojing Investment aimed at tapping the latter&rsquo;s strong position in e-sports</li>
<li>CMGE&rsquo;s shares rose 3.2% on the news and have rallied 30% in the past week on renewed investors interest in the gaming sector after a prolonged crackdown that is now easing</li>
</ul>
By Doug Young
CMGE Technology Group Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cmgef#OTC">CMGEF</a>) is placing a big bet on e-sports, hoping a related new tie-up can bring some &ldquo;game&rdquo; back to its sagging stock.
Investors seemed to like the idea, with CMGE shares jumping 3.2% on Monday after the company, one of China&rsquo;s many mid-sized game operators,&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0428/2024042800057.pdf">announced</a>&nbsp;its new tie-up with e-sports specialist&nbsp;Guangzhou Chaojing Investment Co. Ltd.&nbsp;The gain extended a rally that has seen CMGE&rsquo;s stock jump 30% over the last week, riding a sudden broader rally that saw the Hang Seng China Enterprises Index rise nearly 10% last week.
CMGE&rsquo;s story appears to be one of growing enthusiasm returning to China&rsquo;s battered gaming stocks after the group took a major beating over the last few years &ndash; part of a series of government crackdowns across China&rsquo;s internet sector.
Among other things, the group was subject to a series of suspensions, often lasting months and even more than a year, in regulatory approval of new games by China&rsquo;s regulator. It was also subject to new rules severely limiting the amount of time minors could spend gaming online, and also the money they could use to tip their favorite internet personalities.
But more recently, Beijing seems to be easing up the gaming sector. Part of that probably owes to its importance as an economic engine as China&rsquo;s economy slows. Another element is China&rsquo;s recent realization that its industries are becoming increasingly isolated from the rest of the world, which is leading to renewed efforts to keep its cutting-edge sectors like gaming engaged in the global community.
Such factors are probably a factor leading companies like CMGE to start seeking new alliances, believing such tie-ups will be welcomed by Beijing as a way to boost the industry. Earlier this month we saw a similar major new tie-up when domestic giant&nbsp;NetEase&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntes#NASDAQ">NTES</a>) resumed a partnership with U.S. peer Blizzard after a one-year pause to bring titles like &ldquo;World of Warcraft&rdquo; and &ldquo;Diablo&rdquo; to China.
CMGE&rsquo;s tie-up isn&rsquo;t quite such a headline-grabber, but looks relatively significant nonetheless. The deal will see the pair cooperate in game development, operation and promotion, according to the Sunday announcement. The deal looks especially focused on e-sports, noting that Chaojing&rsquo;s deep resources in e-sports include its operation of related channels on popular local social media platforms like Douyin, Bilibili, Huya, Kuaishou and Xiaohongshu.
&ldquo;The group can make use of Chaojing Group&rsquo;s resources and experience in e-sports, media communication, fans management and other businesses to further improve the group&rsquo;s efficiency in respect of game research and development &hellip; and enhance the group&rsquo;s business competitiveness,&rdquo; CMGE said in the statement.
No financial terms were given, which indicates this is probably a cross-marketing agreement rather than a tie-up involving major investment by either party. But if the partnership proves fruitful, it&rsquo;s quite possible we could see the two sides extend the tie-up with the formation of a joint venture or cross investment in each other.
<h3>E-Sports potential</h3>
The tie-up takes direct aim at China&rsquo;s e-sports market, which is both full of potential but also sensitive due to its vulnerability to future crackdowns. In addition to spending extended time online competing and following their favorite gamers, e-sports enthusiasts also often tip those gamers as part of the culture &ndash; two areas that could come under more regulatory scrutiny in the future.
China&rsquo;s e-sports industry was worth 127 billion yuan ($17.5 billion) in 2021, roughly double the 60 billion yuan four years earlier in 2017, according to third-party data in a U.S. IPO prospectus submitted by smaller e-sports company&nbsp;NeoTV Group&nbsp;last year.
In addition to small companies like NeoTV, the industry has spawned larger players like Tencent-backed&nbsp;VSPO, which last year raised $265 million from Savvy Games Group, the gaming arm of Saudi Arabia&rsquo;s sovereign wealth fund.
CMGE&rsquo;s new tie-up also contains an international angle, noting the alliance is aimed at capturing a slice of the $10 billion global market for physical battle cards using Chaojing&rsquo;s international channels related to one of its games.
Like many Chinese gaming companies, CMGE has been trying to diversify its business into other markets, partly as a hedge against regulatory risk at home. Its efforts on that front backslid a bit last year, with international revenue dropping 37% to 227 million yuan in 2023 from 361 million yuan in 2022. That dropped the international portion of its revenue to 9% of the total last year from 13% in 2022, so perhaps the new tie-up can help to reverse that trend.
Like many in the sector, CMGE has struggled in recent years due to the regulator tightening. Its revenue declined 4% last year to 2.6 billion yuan from 2.7 billion yuan in 2022, though its loss over that period narrowed to 38 million yuan from a 217 million yuan loss in 2022. And importantly, the company returned to profitability on an adjusted basis last year, which typically excludes employee-based stock compensation. It reported a modest 5.4 million yuan adjusted profit for 2023, reversing a 196 million yuan loss on that basis in 2022.
Analysts are quite bullish on the company as all the recent regulatory noise fades into the background. Four polled by Yahoo Finance expect CMGE&rsquo;s revenue to jump 44% this year, and then to rise another 18% in 2025.
The analyst bullishness and recent rally in its stock have left CMGE&rsquo;s shares valued relatively strongly compared to other mid-sized gaming companies, though they&rsquo;re still well behind big names like NetEase. The stock now trades at a price-to-sales (P/S) ratio of 1.25, behind NetEase&rsquo;s 4.4 but ahead of the 1 for&nbsp;Huya&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/huya#NYSE">HUYA</a>) and 0.7 for&nbsp;NetDragon&nbsp;(0777.HK).
At the end of the day, CMGE&rsquo;s new tie-up and China&rsquo;s loosening regulatory environment both look broadly positive for the company. And if the nascent rally for Chinese stocks continues, it&rsquo;s quite possible companies like CMGE could emerge as major beneficiaries.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Under the terms of the Agreement, the two companies will leverage their musical prowess to jointly promote the presence of fan-favorite K-Pop artists from JYP&nbsp;Entertainment&#39;s catalog and bring more high-quality music to Chinese music lovers.&nbsp;This partnership expands the range of K-Pop music available on NetEase Cloud Music even further. Both parties will collaborate closely, utilizing their strengths to enhance the user experience and explore new commercialization opportunities originating from top-tier K-Pop music content

Reported Earlier, NetEase Cloud Music Adds Expansive K-Pop Portfolio With JYP Entertainment Agreement

HSBC analyst Ritchie Sun maintains NetEase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) with a Buy and lowers the price target from $130 to $126.

Price Target

Analyst Ratings

HSBC Maintains Buy on NetEase, Lowers Price Target to $126

BGNE

Shares of US-listed Chinese stocks are trading lower amid overall market weakness on rate cut uncertainty. China is also reportedly seeking to phase out foreign chips for telecom companies, which could add to US-China tensions.

Morgan Stanley analyst Alex Poon maintains NetEase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) with a Overweight and lowers the price target from $135 to $120.

Morgan Stanley Maintains Overweight on NetEase, Lowers Price Target to $120

NetEase shares are trading lower. The stock gained earlier in the week amid new game approvals.

PXLW

Reported Earlier, Pixelworks Brings New Mobile Gaming Experience To "Diablo Immortal", A Game By Blizzard Entertainment and NetEase

After a tumultuous fallout in 2023, Blizzard Entertainment and NetEase Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) have reconciled, marking a return of popular gaming titles to the <a href="https://www.benzinga.com/markets/asia/24/02/36914132/tencents-dnf-mobile-leads-market-revival-with-2-9-stock-surge-after-chinas-gaming-regulation-reversa">Chinese market. </a>
What Happened: A joint statement released on Wednesday revealed that the iconic World of Warcraft and other beloved games from Blizzard Entertainment will make a comeback, following a year of negotiations.
The renewal of the partnership between California-based Blizzard and Hangzhou-based NetEase comes after a 15-year relationship that had been abruptly terminated. The cessation left millions of fans in China disheartened, signaling an end to a long-standing gaming era.
See Also: <a href="https://www.benzinga.com/markets/asia/23/03/31590373/how-miscommunication-over-microsoft-acquisition-led-to-activision-blizzard-netease-split">How Miscommunication Over Microsoft Acquisition Led To Activision Blizzard-NetEase Split</a>
&#8220;We are thrilled to embark on the next chapter, built on trust and mutual respect, to serve our users in this unique community that we&#8217;ve built together,&#8221; NetEase CEO William Ding said in a statement. 
Under the new deal, titles including &#8220;World of Warcraft&#8221; and &#8220;Hearthstone,&#8221; alongside others from the Warcraft, Overwatch, Diablo, and StarCraft franchises, are slated to make a sequential return to the Chinese market starting this summer. Further details regarding the relaunch are anticipated to be disclosed at a later date.
Meanwhile, Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Microsoft Gaming and NetEase have also forged an agreement to explore the introduction of new titles by the Chinese company to Xbox consoles.
This development comes following Microsoft&#8217;s acquisition of Activision Blizzard, one of the largest video game developers globally, in 2023.
&#8220;Returning Blizzard&#8217;s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,&#8221; Phil Spencer, CEO of Microsoft Gaming, said.
With restrictions imposed on gaming hours for minors and heightened scrutiny on gaming addiction, the return of these titles marks a notable event in the evolving landscape of China&#8217;s gaming ecosystem.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/03/37941530/how-tencents-new-mobile-ventures-aim-to-mimic-palworlds-global-success">How Tencent&#8217;s New Mobile Ventures Aim To Mimic Palworld&#8217;s Global Success</a>

Blizzard titles to return to mainland China beginning summer 2024
Microsoft Gaming and NetEase deepen their relationship, with a strategic partnership based on their shared desire to bring new gaming experiences to players across platforms and markets

Reported Earlier, Blizzard Entertainment Renews Partnership With NetEase To Bring Beloved Titles Back In China; Microsoft Gaming Enters Broader Collaboration With NetEase

NetEase Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) shares closed higher by 3.8% to $100.62 for Tuesday&#8217;s session following a report suggesting the company and Blizzard Entertainment are expected to announce a new deal.
Blizzard, renowned for games like World of Warcraft, is set to announce a new deal with its Chinese partner NetEase, as reported by the <a href="https://www.scmp.com/tech/big-tech/article/3258405/blizzard-entertainment-and-netease-renew-partnership-week-bringing-games-world-warcraft-back-china">South China Morning Post</a>. 
The deal, expected to be announced on Wednesday, will facilitate the distribution of Blizzard titles in China. While specifics remain undisclosed, sources suggest that it might take about a month for Blizzard games to officially make a comeback in the Chinese market following the announcement of this partnership.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38169708/traders-brace-for-inflation-data-june-rate-cut-hopes-hang-by-thread-10-etfs-that-co">Traders Brace For Inflation Data, June Rate Cut Hopes Hang By Thread: 10 ETFs That Could Be Volatile Wednesday</a>
<h2 class="wp-block-heading">How To Buy NTES Stock</h2>
By now you're likely curious about how to participate in the market for NetEase &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of NetEase, which is trading at $99.59 as of publishing time, $100 would buy you 1.0 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, NTES has a 52-week high of $118.90 and a 52-week low of $80.79.

NetEase shares are trading higher following a report suggesting the company and Blizzard are expected to announce a new deal.

NetEase shares are trading higher following reports indicating The National Press and Publication Administration gave approval to 14 new imported games.

<a href="https://www.scmp.com/business/china-business/article/3258295/hong-kong-stocks-trade-close-four-week-high-netease-jumps-new-game-approvals" title="https://www.scmp.com/business/china-business/article/3258295/hong-kong-stocks-trade-close-four-week-high-netease-jumps-new-game-approvals">https://www.scmp.com/business/china-business/article/3258295/hong-kong-stocks-trade-close-four-week-high-netease-jumps-new-game-approvals</a>

Movers

Trading Ideas

NetEase Shares Higher Premarket Following Report Of New Game Approvals From The National Press And Publication Administration

In an exclusive interview with Benzinga, Henry Greene, Investment Strategist at KraneShares, shared insights into the investment approach and opportunities in <a href="https://www.benzinga.com/topic/china">China&#8217;s dynamic market</a>.
KraneShares, with its focus on capturing the essence of the &#8220;New China&#8221; economy, emphasizes industries positioned for long-term growth. Greene noted that KraneShares is uniquely focused on the future growth of China, &#8220;as opposed to the industries that have driven the &#8216;Old China&#8217; economy, such as manufacturing, real estate, and financials.&#8221;
<h2 class="wp-block-heading">China&#8217;s Internet Penetration Rate Presents An Opportunity</h2>
Regarding promising sectors, Greene highlighted China&#8217;s internet and technology industries. &#8220;China&#8217;s internet penetration rate remains low at 74%,&#8221; he stated, indicating significant growth potential. This is despite its consumers spending twice as much online as in the U.S. Per Greene, the government in China is currently prioritizing the development of domestic technology companies, especially in electric vehicles, clean tech, and semiconductors.
<h2 class="wp-block-heading">Optimism Amid Challenges: KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>)</h2>
Greene expressed optimism about China as an asset class despite geopolitical tensions. He emphasized the overselling of Chinese companies by global investors and the resulting opportunities. &#8220;Geopolitical tensions don&#8217;t impact the underlying businesses of many companies in our KWEB ETF,&#8221; Greene affirmed.
The KWEB ETFs&#8217; top holdings include: Tencent Holdings Ltd (OTCPK:TCEHY) (OTCPK:TCTZF) (9.76%), Alibaba Group Holding Ltd Ordinary Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#NYSE">BABAF</a>) (9%), Meituan Class B (OTCPK:MPNGF) (OTCPK:MPNGY) (7.97%), PDD Holdings Inc ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) (6.56%) and NetEase Inc Ordinary Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) (5.99%).
To address investor concerns about volatility, KraneShares has launched two ETFs providing downside protection on KWEB: 
<ul>
<li>KraneShares 100% KWEB Defined Outcome January 2026 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KPRO#NYSE">KPRO</a>)</li>
<li>KraneShares 90% KWEB Defined Outcome January 2026 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBUF#NYSE">KBUF</a>)</li>
</ul>
<h2 class="wp-block-heading">China&#8217;s Emergence As World&#8217;s Largest Vehicle Exporter</h2>
Discussing the automotive sector, Greene noted China&#8217;s emergence as the world&#8217;s largest vehicle exporter. &#8220;This represents a significant opportunity but also poses challenges,&#8221; he explained. &#8220;Increased imports from China may lead to protectionism in some economies.&#8221;
Related: <a href="https://www.benzinga.com/markets/asia/24/04/38066697/chinas-ev-wars-heat-up-chery-launches-new-brand-to-battle-tesla-and-huawei">China&#8217;s EV Wars Heat Up: Chery Launches New Brand To Battle Tesla And Huawei</a>
<h2 class="wp-block-heading">China&#8217;s Stock Market Has Bottomed &#8211; Capture The Opportunity</h2>
&#8220;China's stock market has bottomed, indicating a potentially rare opportunity to buy assets at valuations not seen for decades,&#8221; Greene said. He added that KWEB as a good way to access China&#8217;s top internet stocks, noting that its holdings have a price-to-earnings ratio of 18x compared to the 31x of U.S. internet firms.
On the topic of artificial intelligence (AI), Greene highlighted opportunities beyond hardware companies like Nvidia. &#8220;We see more opportunity in the companies that are developing applications of large language models (LLMs),&#8221; he said.
KraneShares&#8217; Greene provided valuable insights into the evolving landscape of China&#8217;s markets and the investment opportunities they present. With a focus on innovation and growth, KraneShares continues to navigate the dynamic Chinese economy for investors seeking exposure to its burgeoning sectors.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38070613/billionaire-investor-ray-dalio-remains-bullish-on-china-despite-a-looming-100-year-storm-the-time-to">Billionaire Investor Ray Dalio Remains Bullish On China Despite A Looming &#8216;100-Year Storm&#8217;: &#8216;The Time To Buy Is When Everyone Hates The Market&#8217;</a>
Image generated using artificial intelligence with Midjourney.

Exclusives

Interview

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

KraneShares Trust KraneShares 90% KWEB Defined Outcome January 2026 ETF

KBUF

KraneShares Trust KraneShares 100% KWEB Defined Outcome January 2026 ETF

KPRO

KWEB

MPNGF

MPNGY

TCEHY

TCTZF

EXCLUSIVE: 'China's Stock Market Has Bottomed, Indicating A Potentially Rare Opportunity,' Says Investment Strategist

Shares of Butterfly Network, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfly#NASDAQ">BFLY</a>) fell sharply during Thursday&rsquo;s session after the company reported mixed fourth-quarter financial results.
Butterfly Network posted GAAP loss of 21 cents per share versus market estimates for a loss of 14 cents per share. The company&rsquo;s quarterly sales came in at sales came in $16.52 million versus estimates of $15.35 million.
Butterfly Network shares dipped 21.7% to $1.1588 on Thursday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Enveric Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/envb#NASDAQ">ENVB</a>) gained 177.1% to $2.30 after the company announced it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of compounds.</li>
<li>Societal CDMO, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sctl#NASDAQ">SCTL</a>) shares climbed 132.7% to $1.07 as the company agreed to be acquired by CoreRx, Inc.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) gained 55.4% to $1.8802 after surging around 39% on Wednesday.</li>
<li>Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) climbed 39.7% to $7.78.</li>
<li>Ocean Biomedical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocea#NASDAQ">OCEA</a>) gained 36.4% to $2.1008. Ocean Biomedical announced joint venture partner, Virion Therapeutics to present clinical study data at 2024 APASL Global Liver Meeting.</li>
<li>Inseego Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/insg#NASDAQ">INSG</a>) rose 34.5% to $3.00.</li>
<li>Vertex, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verx#NASDAQ">VERX</a>) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance.</li>
<li>iHeartMedia, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ihrt#NASDAQ">IHRT</a>) rose 29.1% to $2.93 following fourth-quarter results.</li>
<li>Agrify Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agfy#NASDAQ">AGFY</a>) gained 27% to $0.6161. Agrify announced a $3.4 million sales order from New Jersey woman-owned business HarvestWorks Farm.</li>
<li>Renalytix Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rnlx#NASDAQ">RNLX</a>) climbed 26.5% to $1.05 after the company announced that effective Mar. 1, the US approved adding the company&#39;s kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract.</li>
<li>Tutor Perini Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpc#NYSE">TPC</a>) gained 26% to $11.64 following fourth-quarter results.</li>
<li>Bright Scholar Education Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bedu#NYSE">BEDU</a>) gained 25.3% to $2.3178.</li>
<li>C3.ai, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ai#NYSE">AI</a>) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results.</li>
<li>Sterling Check Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ster#NASDAQ">STER</a>) jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) gained 24% to $2.00. Adial Pharmaceuticals was awarded a new patent covering AD04 for the potential treatment of opioid use disorder.</li>
<li>Revance Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvnc#NASDAQ">RVNC</a>) jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results.</li>
<li>Latham Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swim#NASDAQ">SWIM</a>) climbed 22.8% to $3.36.</li>
<li>Avidity Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rna#NASDAQ">RNA</a>) jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement.</li>
<li>Pure Storage, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pstg#NYSE">PSTG</a>) rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Also, UBS maintained a Neutral rating on the stock and raised its price target from $38 to $44.</li>
<li>Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>) gained 21.6% to $237.82 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Okta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/okta#NASDAQ">OKTA</a>) shares rose 19.8% to $104.55 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Mersana Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrsn#NASDAQ">MRSN</a>) gained 19.5% to $5.80 after the company reported fourth-quarter financial results.</li>
<li>Establishment Labs Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esta#NASDAQ">ESTA</a>) rose 17.8% to $45.31 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Montrose Environmental Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/meg#NYSE">MEG</a>) gained 16.7% to $38.52 following quarterly results.</li>
<li>ORIC Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/oric#NASDAQ">ORIC</a>) climbed 16.1% to $13.65.</li>
<li>SunOpta Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stkl#NASDAQ">STKL</a>) rose 15% to $6.91 following strong quarterly results.</li>
<li>TaskUs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/task#NASDAQ">TASK</a>) gained 14.4% to $14.17 following upbeat quarterly results.</li>
<li>Magnite, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgni#NASDAQ">MGNI</a>) rose 13.8% to $11.93 following strong quarterly results.</li>
<li>Indaptus Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indp#NASDAQ">INDP</a>) rose 13.8% to $2.23.</li>
<li>Hayward Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hayw#NASDAQ">HAYW</a>) gained 13.7% to $14.88 following upbeat results.</li>
<li>Hormel Foods Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>) rose 12.8% to $34.81 after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook.</li>
<li>Nxu, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxu#NASDAQ">NXU</a>) shares rose 9.2% to $0.7750. Nxu said it fully regained compliance with Nasdaq&#39;s continued listing requirements.</li>
<li>NFT Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mi#NYSE">MI</a>) shares jumped 7.9% to $0.2374.</li>
<li>Sprinklr, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cxm#NYSE">CXM</a>) gained 7.9% to $13.56. Sprinklr will replace Veradigm in S&amp;P SmallCap 600 effective prior to opening of trading on March 4, 2024.</li>
<li>Papa John&#39;s International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pzza#NASDAQ">PZZA</a>) climbed 6.8% to $74.89 following strong quarterly earnings.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>J-Long Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jl#NYSE">JL</a>) fell 46.3% to $6.86. J-Long Group declared a special cash dividend in aggregate amount of $6 million.</li>
<li>Golden Minerals Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aumn#NYSE">AUMN</a>) dipped 40.4% to $0.3163. Golden Minerals announced that it has elected to stop operations at its Velarde&ntilde;a Properties, located in Durango State, Mexico.</li>
<li>LivePerson, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpsn#NASDAQ">LPSN</a>) shares declined 40% to $1.43 following fourth-quarter financial results.</li>
<li>NWTN Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwtn#NASDAQ">NWTN</a>) fell 40% to $2.99.</li>
<li>Endava plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dava#NYSE">DAVA</a>) fell 40% to $38.31 following second-quarter earnings.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) fell 39.7% to $1.3801 as the company announced intention to explore strategic alternatives.</li>
<li>Ironwood Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irwd#NASDAQ">IRWD</a>) fell 39% to $9.23 after the company&#39;s Phase 3 trial of once-weekly subcutaneous apraglutide did not meet two out of four key secondary endpoints.</li>
<li>Xometry, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xmtr#NASDAQ">XMTR</a>) fell 37.4% to $18.84 after the company reported fiscal fourth-quarter results and issued first-quarter guidance below estimates and disclosed a CFO transition.</li>
<li>Grifols, S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grfs#NYSE">GRFS</a>) fell 36.7% to $5.91.</li>
<li>The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) shares declined 33.7% to $19.05. Chemours Company named Denise Dignam as the interim CEO and Matt Abbott as the interim CFO. The company also issued preliminary 2023 results.</li>
<li>Bakkt Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkkt#NASDAQ">BKKT</a>) fell 33.4% to $0.6792 after the company announced two securities purchase agreements.</li>
<li>CommScope Holding Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/comm#NASDAQ">COMM</a>) dipped 30% to $1.2950 after the company reported financial fourth-quarter results below estimates.</li>
<li>Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) fell 25.2% to $11.43.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gyre#NASDAQ">GYRE</a>) dropped 22% to $19.34.</li>
<li>Lotus Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lot#NASDAQ">LOT</a>) fell 21.8% to $7.71.</li>
<li>BYND Cannasoft Enterprises Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcan#NASDAQ">BCAN</a>) shares fell 20.2% to $0.1621. BYND Cannasoft is entering into production agreements for its EZ-G Device.</li>
<li>Snowflake Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>) shares tumbled 20.1% to $183.81. Snowflake reported upbeat earnings for its fourth quarter. The company said CEO Frank Slootman has decided to retire from his role as CEO but will continue to serve as chairman of the board. Sridhar Ramaswamy has been appointed as CEO and a member of the board, effective immediately.</li>
<li>Schr&ouml;dinger, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sdgr#NASDAQ">SDGR</a>) shares declined 19.9% to $25.12 after the company reported mixed fourth-quarter financial results.</li>
<li>Castle Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cstl#NASDAQ">CSTL</a>) fell 18.7% to $19.83 following fourth-quarter financial results.</li>
<li>bluebird bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blue#NASDAQ">BLUE</a>) fell 18.2% to $1.3750.</li>
<li>Inari Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nari#NASDAQ">NARI</a>) shares fell 18.1% to $47.50 after posting a loss for the fourth quarter.</li>
<li>WW International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ww#NASDAQ">WW</a>) fell 17.9% to $3.1350 after the company reported fourth-quarter financial results and announced that director Oprah Winfrey has decided not to stand for re-election at the company&#39;s upcoming annual meeting of shareholders.</li>
<li>uniQure N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qure#NASDAQ">QURE</a>) fell 16.7% to $5.57. Goldman Sachs analyst Salveen Richter downgraded uniQure from Buy to Neutral and lowered the price target from $63 to $8.</li>
<li>Amarin Corporation plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amrn#NASDAQ">AMRN</a>) fell 16.7% to $1.09 following quarterly results.</li>
<li>DoubleVerify Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dv#NYSE">DV</a>) declined 16.6% to $32.71 after the company reported fourth quarter financial results.</li>
<li>Shoals Technologies Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/shls#NASDAQ">SHLS</a>) shares dipped 16.3% to $12.89 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>Milestone Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mist#NASDAQ">MIST</a>) shares fell 16% to $1.7897 after announcing a proposed public offering of common shares and pre-funded warrants.</li>
<li>COMPASS Pathways plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmps#NASDAQ">CMPS</a>) fell 16% to $10.40 following a wider-than-expected quarterly loss.</li>
<li>FIGS, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/figs#NYSE">FIGS</a>) shares fell 15.4% to $5.10 after the company reported mixed quarterly financial results.</li>
<li>The Lion Electric Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lev#NYSE">LEV</a>) dipped 12.6% to $1.46 following fourth quarter financial results.</li>
<li>Cytek Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctkb#NASDAQ">CTKB</a>) fell 12.2% to $7.67 following fourth quarter financial results.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) shares fell 11.1% to $4.4350 following quarterly results.</li>
<li>Titan International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twi#NYSE">TWI</a>) fell 10% to $12.73 following weak sales.</li>
<li>IonQ, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ionq#NYSE">IONQ</a>) shares declined 7.2% to $10.45 after the company reported mixed fourth quarter financial results.</li>
<li>Array Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arry#NASDAQ">ARRY</a>) fell 5.8% to $13.27.</li>
<li>Bath &amp; Body Works, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbwi#NASDAQ">BBWI</a>) fell 5.2% to $45.80 after the company reported fourth-quarter earnings and issued worse-than-expected FY24 outlook. It also authorized $500 million stock buyback.</li>
<li>NetEase, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntes#NASDAQ">NTES</a>) shares fell 3.7% to $108.03 after the company reported financial fourth-quarter results below estimates.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/37390717/nvidia-to-rally-around-27-here-are-10-top-analyst-forecasts-for-thursday"> NVIDIA To Rally Around 27%? Here Are 10 Top Analyst Forecasts For Thursday</a>

Intraday Update

ADIL

AGFY

AMRN

ARRY

AUMN

BBWI

BCAN

BEDU

BFLY

Bakkt Holdings, Inc. Class A Common Stock

BKKT

BLUE

CMPS

COMM

CRML

CSTL

CTKB

DAVA

DUOL

ENVB

ESTA

FIGS

GRFS

GYRE

HAYW

IHRT

INDP

INSG

IONQ

IRWD

LPSN

MGNI

MIST

MRSN

NARI

NWTN

OCEA

OKTA

ORIC

PSTG

PZZA

QURE

RNLX

RVNC

SCTL

SDGR

SHLS

SIDU

SNOW

STER

STKL

SWIM

TASK

VERX

VLCN

XMTR

Why Butterfly Network Shares Are Trading Lower By 22%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

NetEase shares are trading lower after the company reported worse-than-expected Q4 financial results.

NetEase, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) reported fourth-quarter fiscal 2023 revenue growth of 7.0% year-on-year to $3.82 billion, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n37385355/netease-announces-fourth-quarter-and-fiscal-year-2023-unaudited-financial-results" rel="noreferrer noopener">consensus of $3.94 billion</a>.
The Chinese gaming player&#8217;s adjusted EPADS of $1.60 missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $1.71</a>. The stock price slid after the results.
Segments and margins:&nbsp;Games and related value-added services revenues grew 9.6% Y/Y to $2.9 billion. The corresponding gross margin increased by 1,040 bps to 69.5%, attributable to a higher proportion of net revenues from NetEase&#8217;s self-developed games.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/01/36731713/tencent-and-netease-surge-after-chinese-regulator-pulls-draft-gaming-rules-from-website" rel="noreferrer noopener">Tencent And NetEase Surge After Chinese Regulator Pulls Draft Gaming Rules From Website</a>
Youdao, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAO#NYSE">DAO</a>) revenue climbed by 1.8% Y/Y to $208.5 million, and the corresponding gross margin declined by 340 bps to 49.9% due to decreased revenue contribution from its learning services and reduced gross profit margin from its smart devices.
Cloud Music&#8217;s revenues were $279.7 million, down by 16.4% Y/Y, and its gross margin expanded by 1,250 bps to 30.3%.
Innovative businesses and other revenue grew by 12.9% Y/Y to $387.7 million, and the gross margin increased by 290 bps to 34.4% due to improved gross profit margin from Yanxuan and advertising services.
NetEase held $15.6 billion in cash and equivalents as of December 31, 2023, and generated $1.7 billion in operating cash flow.
Dividend:&nbsp;The board approved a dividend of $1.07985 per ADS for the fourth-quarter versus $0.4950 per ADS for the third-quarter.
The company acknowledged strengthening its anti-addiction system and continuing to steer the gaming ecosystem toward a healthier trajectory.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29052152/newplot-105.png" alt="" class="wp-image-233869" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29052152/newplot-105.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29052152/newplot-105-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
VanEck Video Gaming And ESports ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPO#NASDAQ">ESPO</a>) has close to 6% exposure to NetEase and has gained close to 10% year-to-date.
Price Action: NTES shares traded lower by 1.27% at $110.85 premarket on the last check Thursday.

Earnings

Equities

Dividends

ESPO

NetEase Stock Dips After Q4 Print: What's Going On?

Which stocks are best to buy now? According to Top Wall Street Analysts, the three stocks listed below are Strong Buys. Each stock received a new B...

3 Best Stocks to Buy Now, 4/11/2024, According to Top Analysts

CMB International Securities analyst Saiyi HE maintained a Buy rating on NetEase (NTES – Research Report) yesterday and set a price target of $130....

Maintain Buy Rating on NetEase: Robust Outlook with Blizzard Partnership and Strong Gaming Pipeline

'Warcraft' Return To NetEase Signals Extension Of China's Gaming Relaxation

Tencent rises after announcing much-awaited game to debut early- report

Netease (NTES) has released an update. NetEase, Inc. has announced that its 2024 Annual General Meeting of Shareholders will take place on June 26,...

NetEase Schedules 2024 Shareholders Meeting

Chinese tech stocks jump amid positive earnings of US giants Microsoft, Alphabet

Polen Capital Q1 2024 Emerging Markets Growth Commentary

Seeking Exposure To China's Technology Industry

Cloud Music adds expansive K-Pop portfolio with JYP Entertainment agreement

Huawei's Q1 profit soars amid rising challenge to Apple in China - report

AAPL

ACLX

ATHM

BAIDF

BLBLF

CQQQ

DNOPF

DNOPY

GOOG

GOOGL

KGBLF

KGBLY

KGDEF

KGDEY

KSFTF

KSHTY

KUASF

NETTF

NEXOF

NEXOY

NRIX

PROSF

PROSY

SNPTF

SOTGY

SSNLF

TCHI

Press Releases

Cloud Music Inc. to Report Fiscal Year 2023 Financial Results on February 29, 2024

Youdao Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results

NetEase Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results

Cloud Music Inc. Reports Fiscal Year 2023 Financial Results

NetEase Experts Spotlight Cutting-Edge Game Technology at GDC 2024

Blizzard Entertainment and NetEase Renew Agreement to Bring Beloved Titles Back to China; Microsoft Gaming, NetEase Enter Broader Collaboration

Pixelworks Brings New Mobile Gaming Experience to "Diablo Immortal", a Co-developed Game by Blizzard Entertainment and NetEase

NetEase, Inc. Announces Filing of Annual Report on Form 20-F for Fiscal Year 2023 and Publication of 2023 Environmental, Social and Governance Report

Youdao Filed 2023 Annual Report on Form 20-F

Contracts

Cloud Music Inc. Adds Expansive K-Pop Portfolio with JYP Entertainment Agreement

Blue Hat Interactive Entertainment Technology - Ordinary Shares

Blue Hat Interactive

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NetEase Stock (NASDAQ:NTES), Short Interest Report

People Also Watch