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Despite positive analyst research on 58.com (WUBA), the Chinese new issue was down another 2% in late-session trading Friday, following a big decline Wednesday. The Beijing-based company runs an online classified ads marketplace, similar to Craigslist in the U.S. It made its U.S. IPO on Oct. 31, raising $187 million. The stock priced at $17, jumped 42% its first day to 24.12 and peaked on Nov. 22 at 38.70. In the stock market today, 58.com stock Scalper1 News
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