PINS - JOYY Inc.: Recent Sale Of Chinese Business Is A Major Positive
- JOYY has recently sold its Chinese business to Baidu, marking its transformation into a global social media company.
- With over $6 billion in cash on the balance sheet, JOYY can now accelerate growth of Bigo's apps and expand into other complementary areas.
- Management's actions have been quite shareholder-friendly, yet JOYY still trades at a discount to social media peers.
- Overall, though an app ban by the Indian government has temporarily set JOYY back, JOYY is set for strong growth over the long run.
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JOYY Inc.: Recent Sale Of Chinese Business Is A Major Positive