You On Demand +31% on stock sale to Chinese billionaire

Xueche He, chairman of energy investment holding company Honbridge, has bought 2.29M You On Demand (YOD +31%) Series E convertible preferred shares in a private transaction. Pricing hasn't been disclosed.

Shares have soared above $2.80 after gradually falling from a March high of $7.12 over the last two months. They slumped last week in response to YOD's Q1 results.

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