Agora, the Chinese company powering Clubhouse, sees stocks soar as investors try to cash in on Silicon Valley’s hottest social media platform

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Fervour over audio-focused social media start-up Clubhouse has sent shares of Chinese company Agora soaring after news started circulating online that it was providing critical back-end communication services to the hottest new social app in Silicon Valley since Snapchat.Investors piled into Agora on Monday, pushing the stock up to US$73.60, a 30 per cent jump over the closing price on Friday. The jump came the same day Tesla and SpaceX CEO Elon Musk joined Clubhouse and quickly hit the…

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