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ATHM - Why Shares of Autohome Popped 17.6% in December
Autohome Inc. American Depositary Shares each representing one class A.
Shares of Chinese automobile website Autohome(NYSE: ATHM) surged 17.6% in December, according to data from S&P Global Market Intelligence. Autohome's shares had a challenging year and a challenging November, following a disappointing outlook given in its third-quarter earnings release. The China auto market has been in a recession this year, and is projected to be down 8%-9% in 2019.
However, in December, a U.S.-China "phase one" trade deal reignited hopes for a rebound in the Chinese economy, and therefore its auto market, causing Autohome shares to bounce back from their November swoon.