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SINA Corp (SINA) Surges: Stock Moves 5.9% Higher

Zacks Equity Research
·2 min read

SINA Corporation SINA was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $39.78 to $40.75 in the past one-month time frame.

The upmove came after the company's first quarter 2020 earnings trumped estimates and the announcement of entering into a merger agreement with New Wave Holdings Limited.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Sina Corporation Price

Sina Corporation Price
Sina Corporation Price

Sina Corporation price | Sina Corporation Quote

SINA Corp currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

A better-ranked stock in the Internet – Content industry is Brightcove Inc. BCOV, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Zacks Investment Research