Hong Kong media company Next Digital sees shares surge after founder Jimmy Lai’s arrest


Source: independenteagle.com independenteagle.com

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Hong Kong-based media firm Next Digital saw its stock price explode Monday after authorities arrested its dissident founder. Next Digital’s shares surged as much as 344 percent as investors showed solidarity with Jimmy Lai, the pro-democracy mogul who was cuffed Monday under Hong Kong’s new national security law. The stock initially dipped on news of Lai’s arrest, then spiked as his allies snapped up stakes before closing up 183 percent at 0.255 Hong Kong dollars. Activists on Facebook and LIHKG, an online forum in Hong Kong, urged people to buy shares to show support for the city’s democracy movement, the...