What's Going On With Bilibili Shares Exploding Higher Friday?

Bilibili Inc - ADR BILI shares are trading higher by 10.68% to $25.90 Friday morning. Shares of several Chinese stocks are trading higher, potentially on upward momentum, as China eases some zero-Covid restrictions.

What's Going On In China?

China began relaxing some of its COVID-19 restrictions on Wednesday, following large protests late last month in response to the country's rigorous "zero-COVID" policy.

China's National Health Commission said it will discontinue the frequent required testing for the bulk of the population and would no longer require negative tests in most public places, according to the Wall Street Journal.

Additionally, in the case of a positive test the government won't lock down entire apartment buildings and those who have COVID-19 infections won't need to isolate in state quarantine facilities...Read More

According to data from Benzinga Pro, Bilibili has a 52-week high of $59.62 and a 52-week low of $8.62.