Why ChinaNet Online (CNET) Stock More Than Doubled Today

NEW YORK (TheStreet) -- ChinaNet shares skyrocketed in trading today, up 134.2% to $2.39 on heavy volume Friday, following a press release saying that the company is in discussions for a partnership with Alibaba's online shopping unit Taobao. "We are very excited about our new focus on digital advertising and our cooperation with Baidu. We are also in discussions with Taobao of Alibaba to provide "Micro-Sell 360", which is one of our new product solutions geared towards precision marketing for c...