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Financial Company Is Mum on Why Stock Jumped 20% Monday

It says it does not comment on rumors or unusual activity


ChinaFlagChinese wealth management firm Noah Holdings (NYSE:NOAH) issued a statement on Tuesday saying that it had been contacted by the New York Stock Exchange over “unusual market activity” involving its shares.

On Monday, Noah shares jumped more than 20%. That followed a 8% rise on Friday. The company indicated that it would not speculate about the causes of any unusual market activity or comment on rumors due to existing policies.

Gold Jumps on Strong India, China Buying
Gold Jumps on Strong India, China Buying

Noah sells a range of fixed income products, securities investment funds, mutual funds, private equity funds to wealthy clients in China.

Shares of Noah Holdings fell more than 2% in Tuesday trading.

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