- NetEase Inc (NASDAQ:NTES) looks to release the most-awaited Diablo Immortal mobile game in China on July 25, a month after its initially scheduled launch date in the leading gaming market.
- China’s most significant game company after Tencent Holding Ltd (OTC:TCEHY) won regulatory approval for the game co-developed with Activision Blizzard, Inc (NASDAQ:ATVI), following a controversial social media post that halted the rollout.
- A deleted social media post interpreted as criticism of Chinese President Xi Jinping caused the delay in the game’s release.
- Immortal garnered 10 million downloads in the first week after its international launch outside China on June 2.
- After a month-long suspension, China resumed licensing in April, but Tencent and NetEase failed to win approval in the three batches of approved titles.
- The update reflects relaxation in the Chinese regulatory environment as promised by the country lately.
- Price Action: NTES shares traded higher by 4.68% at $98.60 in the premarket on the last check Thursday.
Barclays Maintains Overweight on Booking Holdings, Raises Price Target to $2550
Barclays analyst Mario Lu maintains Booking Holdings (NASDAQ:BKNG) with a Overweight and raises the price target from $2430 to $2550.
