Capital Growth Management’s founder, Ken Heebner (Trades, Portfolio) purchased a 225,000 share stake of NetEase (NTES) at an average price of $155.40 during the second quarter. Since the purchase, the company’s market value has skyrocketed gaining an estimated 51%.
NetEase is a Chinese internet technology company that provides online services centered on content, community, communications and commerce. It was originally founded in 1997 by Ding Lei, and it was a key pioneer in the development of internet services for China. Today, NetEase develops and operates some of China’s most popular online PC and mobile games, advertising services, email and e-commerce platforms. The company is also one of the largest providers of free email services in China, it offers advanced features such as voice search and facial recognition. NetEase also offers fee-based premium email services for corporate users. Continue Reading »