Fangdd Network Group Ltd. (NASDAQ:DUO) shares surged Monday as U.S.-traded Chinese stocks rally following the announcement of additional stimulus measures aimed at reviving the Chinese economy.
The Details:
China's markets posted their largest single-day gains in 16 years on Monday following the announcement of additional stimulus measures over the weekend.
China's central bank will tell banks to lower mortgage rates for existing home loans before Oct. 31. as one of the newly introduced policies. Fangdd Network Group may benefit from the stimulus and lower mortgage rates because it provides real estate information services through its online platform serving individual customers, real estate developers, and agents in China.
Fangdd shares are moving on heavy trading volume Monday with more than 49 million shares already traded, according to data from Benzinga Pro.
How To Buy DUO Stock:
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Fangdd Network Group's case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
DUO Price Action: According to Benzinga Pro, Fangdd Network Group shares are up 147% at $3.11 at the time of publication Monday.
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