guys use your logics, sina is down due to obvious reasons: it is not the earnings
trust me, it is the fear of loss of popularity and engagement numbers from China. You don't have to see the real numbers to know that the numbers are bad. But people assume that wechat is a social network, but it is not, it is just an app for communication like instant messengers. I am sure all longs got burned. I got burned a bit too. But it will come back fast and furious when people realize that weibo is the real deal, not wechat.
The fear could include all of the following:
1) CCP meeting over the weekend. Who knows what they could add any rediculous restriction on weibo.
2) Twitter took a hit today. Talking about monetization, Weibo must be way ahead of Twitter.
3) This quarter's ER has been clearly selloff pattern, NFLX, BIDU,SOHU, FB. So any good ER will be sold off hard.
4) Wechat may take share. Even though they are not exactly the same, but they eat the same pie.
Only a blow out ER in both revenue and earnings, as well as strong forecast could save the stock, anything less could continue the current pattern.