Why Bilibili Shares Are Getting Hammered

Bilibili Inc - ADR BILI shares are trading lower by 6.14% to $22.94 Monday afternoon. Shares of Chinese companies at large are trading lower after July factory activity pulled back from June levels. Alibaba's recent addition to an SEC delisting watchlist has also possibly weighed on US-listed Chinese stocks.

The South China Morning Post on Sunday reported China’s factory activity unexpectedly fell in July, despite signs of recent recovery nationwide.

China’s official manufacturing purchasing managers’ index (PMI) fell from 50.2 in June to 49 in July, according to data released by the National Bureau of Statistics, the South China Morning Post reported. A figure below the 50-mark indicates contraction... Read More

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According to data from Benzinga Pro, Bilibili has a 52-week high of $93.70 and a 52-week low of $14.93.