Why GDS Holdings Stock Was Skyrocketing This Week
GDS Holdings (NASDAQ: GDS) hasn't yet scheduled its upcoming quarterly earnings release. Despite that, over the past few days several analysts have published bullish updates on the Chinese data center operator in anticipation of the event. As a result, GDS' share price was enjoying a 32% week-to-date lift as of Friday morning, according to data compiled by S&P Global Market Intelligence. On Tuesday, GDS stock saw a sudden and sharp increase when Bloomberg reported the previous night that unidentified "people familiar with the matter," said the company was planning an initial public offering (IPO) of its DayOne international business.However, this was negated the following day by management. In a regulatory filing it wrote, "To the best of the Company's knowledge and as at the date of this announcement, DayOne had no concrete or definitive plan on an initial public offering."Continue reading
GDS Holdings (NASDAQ: GDS) hasn't yet scheduled its upcoming quarterly earnings release. Despite that, over the past few days several analysts have published bullish updates on the Chinese data center operator in anticipation of the event. As a result, GDS' share price was enjoying a 32% week-to-date lift as of Friday morning, according to data compiled by S&P Global Market Intelligence.
On Tuesday, GDS stock saw a sudden and sharp increase when Bloomberg reported the previous night that unidentified "people familiar with the matter," said the company was planning an initial public offering (IPO) of its DayOne international business.
However, this was negated the following day by management. In a regulatory filing it wrote, "To the best of the Company's knowledge and as at the date of this announcement, DayOne had no concrete or definitive plan on an initial public offering."
