NEW YORK / ACCESSWIRE / November 14, 2018 / U.S. equities closed down on Wednesday as tech giant Apple closed near bear-market territory and another drop in oil prices raised concerns of a global economic slowdown. The Dow Jones Industrial Average dropped 0.81 percent to close at 25,080.50, while the S&P 500 Index shed 0.76 percent to close at 2,701.58. The Nasdaq Composite Index plunged 0.9 percent at 7,136.39.
According to Frank Cappelleri, executive director at Instinet, "The crude crash has gotten extreme, while a mean reverting move is expected soon, the downturn has had negative effects on both the high yield bond market and credit spreads — all of which will be influential on any rally attempts for equities."
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Weibo's stock jumped 3.08% Wednesday, to close the day at $57.17. The stock recorded a trading volume of 1,797,420 shares, which was below its three months average volume of 2,361,004 shares. In the last year, Weibo's shares have traded in a range of 53.11 - 142.12. The share price has gained 7.64% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $62.47 is below its 200-day moving average of $83.75. Shares of the company are trading at a Price to Earnings ratio of 27.50. Shares of Weibo have fallen roughly 4.14 percent in the past month and are down 44.74 percent year-to-date.
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On Wednesday, shares of Momo recorded a trading volume of 3,712,237 shares, which was below the three months average volume of 4,619,989 shares. The stock ended the day 3.66% higher at $32.88. The share price has fallen 39.38% from its 52 week high with a 52 week trading range of 22.49 - 54.24. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $35.88 is below its 200-day moving average of $41.79. Shares of the company are trading at a Price to Earnings ratio of 16.12. Shares of Momo have fallen roughly 12.67 percent in the past month and are up 34.31 percent year-to-date.
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