40.27 0.00 (0.00%)
After hours: 4:28PM EDT
SINA's (NASDAQ: SINA) stock surged 10% on July 6 after the Chinese tech company received a go-private offer from New Wave MMXV, a British Virgin Islands-based company controlled by SINA's own CEO Charles Chao. New Wave already held a 55.5% voting stake in SINA after a share subscription agreement in late 2017. New Wave wants to acquire the remaining shares of SINA for $41 per share in a $2.7 billion deal.
The U.S. stock market came out of the holiday weekend with just as much upward momentum as it had last week. All three major market benchmarks gained ground, with the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite picking up 1.5% to more than 2% on the day. Today, however, some news from China caused more bullish sentiment to appear across the globe, and even Wall Street benefited from some of the optimism that market participants felt as a result.