Why Tuya Inc. (TUYA) Advanced on Thursday

Published on February 7, 2025 at 12:26 am by Angelica Ballesteros in News

We recently compiled a list of the Impressive Earnings, Fresh Deals Propel Prices of These 10 Firms. In this article, we are going to take a look at where Tuya Inc. (NYSE:TUYA) stands against the other stocks.

Wall Street’s main indices ended mixed on Thursday, with the Dow Jones the sole decliner, losing 0.28 percent.

In contrast, both the S&P 500 and the Nasdaq Composite registered gains, rising by 0.36 percent and 0.51 percent, respectively.

Amid the earnings season, 10 companies saw significant increases in their valuations, thanks to stronger-than-expected earnings reports. Additionally, several firms enjoyed rallies fueled by newly secured deals.

To come up with Thursday’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A computer engineer working intently on a smart home device.

Tuya Inc. (NYSE:TUYA)

Shares of China-based Tuya Inc. soared by 25.93 percent on Thursday to end at $3.4 apiece as investors cheered news of a collaboration with Chery to create a smart cockpit and accelerate the integration of automotive and home ecosystems.

In a statement, Tuya said the partnership will leverage Tuya’s cutting-edge smart space solutions for passenger vehicles. The collaboration aims to establish an interoperable smart home system across brands, ecosystems, and devices enabling seamless communication between cars, in-car devices, and smart home systems.

For instance, drivers will be able to use a Tuya-enabled App on their car’s infotainment system to control home devices in real-time, such as adjusting lighting, air conditioning, and curtains, before arriving home.

In addition to car-home connectivity, the partnership will expand to include smart living scenarios in real estate, communities, and hospitality.

Disclosure: None. This article is originally published at Insider Monkey.