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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Bilibili Shares Are Trading Higher Today

BILI Bilibili Alibaba Group Holding Ltd Bilibili Inc NYSE WB Weibo Corp
  • Alibaba Group Holding Ltd (NYSE:BABA) backed Bilibili Inc (NASDAQ:BILI) is looking to hire 1,000 new content moderators and more closely monitor the health of its workers, Reuters reports.
  • China's leading video platform came under scrutiny after the death of an employee prompted accusations that it was overworking its staff.
  • A user on the microblogging platform Weibo Corp (NASDAQ:WB) said that the employee died after working long hours during the Spring Festival holiday.
  • Bilibili initially denied the allegation. However, later it acknowledged the loss following outrage and assured taking adequate measures.
  • Price Action: BILI shares traded higher by 6.91% at $36.93 on the last check Wednesday.
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