Why Weibo Stock Popped by Over 11% Today
One of China's largest and most important social media companies, (NASDAQ: WB), was a real hit with American investors on Thursday. The company's American Depositary Shares (ADSes) closed that trading session almost 11% higher in price, thanks to a very well-received quarterly earnings report. This made Weibo quite the outlier, as the S 500 (SNPINDEX: ^GSPC) essentially traded flat that day.
Reporting in U.S. dollars, Weibo said its second-quarter net revenue was just under $445 million, for a 2% year-over-year increase. Much of this derived from that classic social media revenue stream, advertising and marketing -- this also rose 2%, to slightly over $383 million. Value-added services went in the opposite direction, sinking by 2% to $61 million and change.
Image source: Getty Images.
Source Fool.com
Weibo Corp. ADR Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Weibo Corp. ADR stock is not clear.
As a result the target price of 12 € shows a positive potential of 26.32% compared to the current price of 9.5 € for Weibo Corp. ADR.
