I have been reading and reading and all the experts said the same the same thing thatSINA is trading as the value od Weibo alone. Fisher investment bought tons of shares. So who is pushing the price down?
Investors should write to SINA and push them to spinoff Weibo.
I think the price is going to continue to fade down until earnings. Think about it. Between Monday and Tuesday, about 1/3 of the float traded. Institutional ownership is around 75% of the float. Everyone who wanted in is already in. I honestly think this will slowly fade to the 40's again just because all the buyers are dried up. Remember, there was heavy selling after the opening gap up on Monday from 61 to 55. I think the smart money exited on the gap up. A true breakaway gap would have seen the price continually climb after the open. I bet this gap fills in 2 weeks, then the MM's will go stop hunting back into the 40's. Only after that will the price go back up. I could be wrong, and have been wrong many times before, but my bets are to play this short in the near term. IMO
im Long sina. but you could be right. too many big Boys missed the surprise. the likes of citi have been shorting since sina was in the high 40's. they are in Trouble right now. big Boys dont like to loose that why they might be able to cover their Shorts again in the high 40s. hope im wrong cause im Long sina & i hate These unfair big Boys manipulating.