Meituan’s stock market price soared as consumption rebounds
Posted On August 5, 2020
The leading lifestyle platform Meituan saw its shares up 8.67% to close at HK$218 apiece, which amounts to the company’s highest ever market value of $182.53 billion. The great capital influx by investors signals the market confidence in the resurgence of consumption following the regionally lifted lockdowns and the rebounding local economy has given people a growing disposable income. Meituan was drastically hit by COVID-19 pandemic as most merchants running offline business were forced to suspend their services.