Why Daqo New Energy Stock Is Skyrocketing Today

Core Insights - Daqo New Energy's stock surged by 11.3% following the release of its strong third-quarter results, outperforming the broader market indices [1][2][4] Financial Performance - Daqo reported non-GAAP adjusted earnings per American depositary share (ADR) of $0.05 for Q3, with revenue reaching $244.6 million, exceeding Wall Street's expectations by approximately $67.8 million [4][8] - The company's sales increased by roughly 23% year-over-year, driven by strong polysilicon production and sales volumes, along with reduced cash costs [4] Market Context - The stock's performance was further supported by positive developments in U.S.-China trade relations, including a preliminary framework for a trade deal that may alleviate concerns regarding Daqo's ADRs being delisted from the New York Stock Exchange [5][6]