Interestingly, WBAI just reported yesterday morning and expectin ZERO revenue next quarter due to the shutting down of their online lottery service, is up 8% today. Pure manipulation indeed.
There's an underlying trust issue which is played up by hedges. Look at VIPS. Accusations of fraud pop up and drive the price down. Same thing has happened to NQ (which is a fraud, imo) and Qihu has been attacked in the past. A lot of money was short prior to earnings and a drop was a done deal, period. No matter what they reported. Shorts will cover and with a extremely cheap valuation Qihu wil head back up.
listen I don't care how many people were short, its an anomaly for a stock that in every sense beat estimates and has a 75% growth in on mobile advertisement. Facebook was not taken seriously until it showed it could monetize all those users with ads. Something is screwy.
They give it away for free. CMCM is going to kill them. Watch and learn. Oh and if the earnings were so great, why down so much? Remember last quarter? Enjoy another three months of nothing.
You're just another local American boy and knows little about this Chinese company. It's ok, not a big deal. Qihu 360 is installed in almost all desktop PCs in China. Their security software is easy to install, but difficult to take out. (I just had a security expert in San Jose tried to take it out from my computer, but failed). Now, you know how powerful their system is with guaranteed in-flow AD money. Given the strong 1st quarter earnings and higher revenue projection, there is no reason to short this stock at this level.