Recent IPO Weibo’s (WB) stock rose Tuesday after T.H. Capital initiated coverage of the company with a buy rating, saying user growth worries have eased. The firm set a price target of 24 on Weibo stock. Weibo runs a Chinese-language microblogging social network, much like Twitter (TWTR)or Facebook (FB). Weibo — ‘microblog’ in Chinese — was spun off by Chinese Web portal Sina (SINA), which reduced its stake in the company to 56% from 78% but
Sina (SINA) stock rose on Friday, a day after the Shanghai-based Web portal posted Q2 earnings that beat Wall Street estimates thanks to rising ad revenue and increasing sales from its Weibo subsidiary. Sina stock was up 4.5% in midday trading in thestock market today, near 50. However, shares of Weibo (WB), its Twitter-like microblog, were down 7% in midday trading Friday as the spinoff continued to stay in the red. Even with the rise, Sina stock
A Sina (SINA) analyst dropped his price target after both the portal and its spinoff microblogging site Weibo gave light Q2 revenue outlooks. Weibo (WB) was down 9% in morning trading in the stock market today while Sina was down 7%, at a 17-month low. Both companies reported late Wednesday. Pacific Crest analyst Cheng Cheng, who rates Sina stock as outperform, or buy, on Thursday dropped his price target to 75 from 88. The stock was trading near