Yes he does, that is because it is a POS going to 55 next week, bloody monday has futures down 1 % and the market probably down 2 to 3 % on the day, way overdue for a nasty selloff, now MMs and hedge funds have a reason to sell to greedy fools mon, tues, wed,thurs, and even Fri if goog earnings are lackluster.
even gap down under 50, then it is anyone's guess where it finishes between 55-58
Also the China economy is slowing more and more each month with no slow down of the slowing, get it? I have traded sina both ways over 30 times and it is not acting right, it is acting like some large holder or a couple of hedge funds want out real bad. Also I think money flows out of SINA mon tues wed thursday, so they can put that money in google before earnings, so say 55 thursday with a 5 dollar up day friday if goog earnings are good.
As China continues to slow, so does the moneyflow to sina, they will never, I repeat ever be a Bidu, China Gov has made sure that will never be fair and gone out of the way to show they don't trust the way sina management does things.
This is one of those stocks that has so much hype, when it falls like now with a really big one or two holders wonting out in a big way of entire sina share holdings. Why would 55 hold? I don't know, but you better hope it does.
classaction this yahoo story sure not good for china
Your points make no sense. Sina's ex-CEO is the brother-in-law of President Jintao, so, this explains why they have become the defacto social networking site in China, and more importantly, why they were not completely shut down last weekend. The opacity of the current situation is what is shaking the stock down, and earnings are due May 9th; people want to see how all of this is going to affect Weibo monetization going forward. Expect more volatility on that date, like in Feb.
The truth, no on knows how Weibo will shake out, bulls or bears, hence, the stock continues to sell-off. Analysts know no more than u or I; they are not the Chinese Gov't. Stock will be at 3x book at $50, good spot for a long trade.