Huya (NYSE: HUYA), which owns one of China’s largest game streaming platforms, went public just over two years ago at $12 per share. Its robust growth in revenue and users attracted the bulls, and the stock subsequently doubled from its IPO price.
Huya was initially spun off of its parent company YY (now known as JOYY (NASDAQ: YY)). Earlier this year, Tencent (OTC: TCEHY) gained control of Huya by boosting its existing stake from 34.6% to 50.1%. Huya still operates independently and remains listed on the NYSE.