11 Best Affordable Growth Stocks to Buy Now

Page 9 of 10

2. NetEase, Inc. (NASDAQ:NTES)

NetEase, Inc. (NASDAQ:NTES) is one of the best affordable growth stocks to buy now. On March 2, Morgan Stanley reiterated an Overweight rating on NetEase Inc. (NASDAQ:NTES) and a $154 price target.

The positive stance follows receipt of a migration exchange notice from the Hong Kong Exchange, requiring the company to convert its secondary listing on HKEX into a dual-primary listing. This conversion push follows most of the company’s global trading volume shifting to Hong Kong. Morgan Stanley views the dual listing as a major positive catalyst for the company.

The investment bank expects the company to meet the dual primary conversion deadline and be included in the Southbound trading program. Under a dual primary listing structure, delisting in one market will not affect listing status in another market. NetEase will join Alibaba, XPeng, and Li Auto with dual primary listings. HKEX will grant the company a 12-month grace period, after which it will be regarded as having a dual primary listing.

NetEase, Inc. (NASDAQ:NTES) is a leading Chinese internet technology company primarily focused on developing and publishing premium mobile and PC games. These account for over 80% of its revenue. Beyond gaming, it operates Youdao (online education), NetEase Cloud Music (streaming), and Yanxuan (e-commerce).

Page 9 of 10