There were many stocks that ended the previous week on a high by rallying strongly on Friday and one such stock was that of Aurora Mobile Ltd – ADR (NASDAQ: JG).
The mobile software development company saw its stock soar by as high as 25% after it made a major announcement. The company announced that it entered a partnership with Kuaishou Technology, which is currently a rival of the video-sharing giant TikTok.
Soon after the announcement, the stock jumped considerably and had recorded gains of 176% before giving up those gains by the end of the day. By way of this collaboration, Aurora is going to deploy its machine learning and artificial intelligence technologies with the view of helping Kuaishou with its monetization strategy.
More importantly, Aurora also stands to earn a portion of the advertising revenue that it helps in generating. Hence, if the partnership works then it could lead to a boost in revenues a well.