(Reuters) – Shares of Lizhi Inc rose as much as 45% on Tuesday, as short-seller Citron Research set a price target of $30 for the Chinese audio mobile app developer.
The price target represented an upside of over 184% to the stock’s closing price on Monday. Lizhi’s shares were up 27.5% at $13.44.
Lizhi is a cross-section of social media app Clubhouse and gaming firm Roblox Corp. Its audio-based social platform Tiya has now expanded into dating, Citron said, pointing its Twitter followers to a video supposedly demonstrating the new feature.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Krishna Chandra Eluri)
