Stock Alert: Aurora Mobile More Than Doubles

(RTTNews) - Shares of Aurora Mobile Ltd. (JG) surged over 100% on Friday morning after the mobile developer service provider announced it has entered into a partnership agreement with TikTok rival Kuaishou Technology to improve advertising monetization efficiency.

JG is currently trading at $8.00, up $4.02 or 101.01%, on the Nasdaq.

Aurora Mobile's advertisement SaaS services will enable Kuaishou to help brands and performance-based advertisers to accurately target potential customers, enhance advertising conversion rate, reduce operational costs, and promote a mutually beneficial relationship between Kuaishou and advertisers on its platform.

Kuaishou app, which means 'quick hands', has more than 260 million daily active users on average in China and is the main rival to Douyin, the Chinese counterpart to Tiktok.