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Reuters
Reuters
Business

Lizhi shares soar as Citron expects stock to nearly triple

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)

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