Shares of Chinese mobile advertising specialist Aurora Mobile (NASDAQ: JG) were trading sharply higher on Tuesday. It wasn’t immediately clear why, though investor confusion in the wake of a deal announced by another company that shares the Aurora name may have been a factor.
As of 2 p.m. EST, Aurora Mobile’s stock price was up about 11.5% from Monday’s closing price.
Aurora Mobile did have big news last week, when it announced a partnership with Kuaishou Technology, a fast-growing rival to giant TikTok. That might still be driving the stock higher — but I suspect that at least some of the buying on Tuesday was a case of mistaken identity.