Chinese gaming and Internet company NetEase reached a record-setting share price on the US stock market Tuesday for the fourth time in the last eight days. The recent success of NetEase can be traced back to the success of the video game Overwatch.

NetEase is the official distributor of Overwatch in China. The company acts as distributor in the country for its publisher Activision Blizzard. Overwatch is enjoying a widely positive success in China following its launch on May 24.

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In a statement acquired by Investors, M Science analyst Henry Guo said, "We are seeing a strong 'network effect' for Overwatch." He added that surveys conducted in the middle of June have revealed that a large percentage gamers started to play the game since some of their immediate peers are also playing or recommended it to them.

A survey conducted by M Science revealed that 29 percent of Overwatch players in China started playing the game because their friends played it too. The survey added that 14 percent of gamers said that they played the game because it is popular. The biggest chunk of gamers, which is about 42 percent, said they played the game because they are avid players of first-person shooter games.

Aside from being a game oriented company, NetEase is also the largest free email provider in China, according to Money Show. NetEase has also delved into mobile apps, social networking, and e-commerce services.

Tagsnetease, china, Tech, Overwatch, video game, stocks