Why Huya Is Tumbling Over 9% Today

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Shares of Huya (NYSE: HUYA) were tumbling over 9% in morning trading Monday after an analyst at CLSA issued a double downgrade of the Chinese video game live-streaming leader from buy to underperform.

Analyst Sally Chan joins a number of other analysts who have scaled back their outlook for the stock, though most were based on valuation. Shares of the gaming streamer were up over 50% before the downgrade as it and DouYu International Holdings (NASDAQ: DOYU) plan a merger under the auspices of Tencent Holdings, which owns a stake in both of them.

Image source: Getty Images.

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