Benzinga | Oct 6, 2020 02:27PM EDT

Why Bilibili's Stock Is Trading Higher Today

Bilibili (NASDAQ:BILI) shares are trading higher on Tuesday on reports the company has hired four banks to pursue a Hong Kong IPO.

Bilibili is a full-spectrum online entertainment company. It operates as a video sharing Website that covers a range of genres and media formats, including videos, live broadcasting, and mobile games. Its theme features include animation, comic, and game, where users can submit, view, and add commentary subtitles on videos. Geographically, the company is based in China and it generates revenues from mobile games, e-commerce, live broadcasting, and online advertising.

Bilibili shares traded up 5.67% to $47.66 on Tuesday. The stock has a 52-week high of $54 and a 52-week low of $13.23.