Why Sogou Stock Skyrocketed 106.2% in July
Shares of Sogou (NYSE: SOGO) jumped 106.2% in July, according to data from S&P Global Market Intelligence. The stock climbed in conjunction with market momentum for much of the month and then saw a pronounced spike following news that the China-based internet search company had received an acquisition offer from Tencent Holdings (OTC: TCEHY). Tencent's stated plan is to shift Sogou into being a privately held subsidiary if its acquisition bid is successful, meaning that the search engine company would be delisted from the New York Stock Exchange.
