Shares of Cheetah Mobile Inc. (CMCM), a China-based mobile internet company, are gaining more than 9 percent or $0.30 in Friday’s morning trade at $3.61, after hitting a new 52-week high of $5.00 despite no specific news that could move the stock. The stock is extending gains from the previous sessions.
U.S. stocks are higher on Friday as a modest rebound in U.S. employment in the month of January, upbeat corporate earnings results, and news that Johnson & Johnson has applied for an emergency use authorization from the FDA for its single-dose coronavirus vaccine boosted investor sentiment.
Cheetah Mobile has traded in a range of $1.64 to $5.00 in the past 52 weeks.
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