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Stock Alert: Wanda Sports Group Leaps 45%

Shares of Chinese sports event promoter Wanda Sports Group Company Limited (WSG) jumped $1.36 or 45.48% on Tuesday before closing at $4.35.

On February 17, Bloomberg had reported that Wanda Sports, a unit of Chinese conglomerate Dalian Wanda Group, is considering selling its Ironman business for $1 billion. Wanda Sports had bought Ironman triathlon in 2015 for $650 million.

Wanda Sports shares debuted on the Nasdaq on July 26 last year, with an opening price of $6.2. The stock has dropped nearly 30% since then.

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