|Bid||0.00 x 1800|
|Ask||0.00 x 800|
|Day's Range||42.75 - 43.30|
|52 Week Range||34.26 - 74.68|
|Beta (3Y Monthly)||2.13|
|PE Ratio (TTM)||17.21|
|Earnings Date||Mar 3, 2020 - Mar 9, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||49.06|
China is sending a team of experts to Thailand - after the death of one of its panda diplomats sparked outrage on social media. Chuang Chuang died in a Thai zoo on Monday (September 16). Chinese social media lit up with outrage at the unexpected death, with a hashtag drawing in 250 million views on Weibo. One user said 'Thailand is so evil... we shouldn't be renting out pandas after this!' Beijing has been engaged in what's often dubbed panda diplomacy since the 1950s. Using their iconic bears as signs of goodwill across the world. President Xi recently presented Russia's president Putin with two furry ambassadors in Moscow. In France, President Macron's wife was named godmother of a feisty young cub back in 2017. Now Chinese Weibo users are saying 'no more pandas for Thailand'. Zoo staff held a moment of silence ahead of a news conference on Tuesday (September 17). One zookeeper said the staff loved and nurtured Chuang Chuang, and hopes everyone will miss him like they do. The cause of his death is still unknown. The zoo says they can't perform an autopsy on the 19-year-old until the Chinese authorities arrive on Thursday (September 19). Pandas generally live around 14 to 20 years in the wild, and up to 30 in captivity - according to the WWF.
(Bloomberg) -- China’s latest crypto-crackdown is already claiming its first casualties.At least five local exchanges have halted operations or announced they will no longer serve domestic users this month, after regulators issued a series of warnings and notices as part of a cleanup of digital currency trading.China’s stepping up scrutiny of its massive cryptocurrency industry just weeks after President Xi Jinping ignited a market frenzy by declaring Beijing’s support for blockchain technology. Financial watchdogs including the Chinese central bank have in past weeks ordered crypto firms to shutter and warned investors to be wary of digital currencies, seeking to rein in a market prone to excesses. Weibo, a Chinese Twitter-like service, suspended accounts operated by major exchange Binance Holdings Ltd. and blockchain platform Tron.Taken together, the latest wave of shutdowns and restrictions represent the biggest cleanup of the sector since an initial Chinese clampdown in September 2017. Although exchanges that allow users to buy Bitcoin and Ether with fiat money were banned, trading had remained rampant in China through over-the-counter platforms or services that deal with crypto assets only. Now, even those alternatives have succumbed to regulators, spooking investors. Bitcoin this week sank to its lowest level in six months at the end of its longest losing streak since at least 2010. The largest crypto-currency recovered with a 6% rebound on Wednesday but is still poised to post its worst month since November last year.Twenty of the top 50 crypto exchanges are based in the Asia-Pacific region and accounted for about 40% of Bitcoin transactions in the first half of the year, according to data from Chainalysis. Within the region, the most exchanges are in China, the research firm found.Aaron Hu, a 26-year-old computer engineer in the central Chinese city of Changsha , said he moved all the crypto he holds -- several million yuan’s worth -- from exchanges like Binance and OKEx to his own wallet address. “The first thing I thought of is how to secure my assets,” he said.Read more: Bitcoin Touches Six-Month Low as More Supports Give WayLast week, Chinese exchange operators Bitsoda and Akdex announced termination of service. Rival Biss said this month it’s halted operations while executives cooperate with a government probe. Btuex said on Monday it will shut in response to Chinese government orders, reopening in future to serve only overseas users. And Idax said on Sunday it will also no longer serve users in China but focus on users abroad, citing policy reasons.“It appears that, like everything else within their borders, China feels it needs to have tighter controls on the crypto market including exchanges, miners and asset issuers,” said Katie Talati, head of research at Arca, a Los Angeles-based asset manager that invests in cryptocurrencies. “I do believe, however, they are moving in a similar direction as Japan and other jurisdictions that have tight and clear regulations for crypto businesses.”For now, uncertainty over how deep the apparent crackdown will run has spurred traders to transfer their money to safer places. One of crypto’s largest wallet apps, ImToken, said Tether transactions among its nearly 10 million users surged to $66 million on Nov. 22, the day China’s central bank issued its latest warning against crypto trading. That’s more than double the app’s average daily Tether transaction in October, the IDG-backed startup told Bloomberg News. Tether, a so-called stable coin pegged to U.S. dollars, is a popular vehicle for investors to move their money into and out of crypto coins.“The current situation and environment for blockchain in China is still very positive,” Tron founder and crypto entrepreneur Justin Sun said. “In the short term, it may not get as much progress as we’d expect.”Here’s a timeline of the recent developments from China that’s been blamed for the plunge:On Nov. 13, Binance’s Weibo account was suspended.On Nov. 14, the Chinese central bank’s Shanghai office and the city’s financial regulator issued a notice asking local government agencies to work with crypto-related companies under their supervision to exit such businesses immediately. On the same day, Beijing’s financial regulator published a statement warning against illegal exchange operations.On Nov. 15, Tron’s Weibo account was frozen.On Nov. 21, Shenzhen financial regulator said in a statement it’s looking into allegedly illegal crypto operations, organizing check-ups and gathering evidence.On Nov. 21, crypto publication the Block reported Binance’s Shanghai office was shut in a police raid. Binance disputed the report, or that it has fixed offices in China.On Nov. 22, the Chinese central bank’s Shanghai branch said in a statement that companies that have conducted publicity campaigns, or have offered other services to offshore crypto exchanges, have been ordered to take immediate corrective actions or exit the business.(Updates with Bitcoin trading in the fourth paragraph)To contact the reporters on this story: Zheping Huang in Hong Kong at firstname.lastname@example.org;Olga Kharif in Portland at email@example.comTo contact the editors responsible for this story: Joanna Ossinger at firstname.lastname@example.org, ;Jeremy Herron at email@example.com, Edwin Chan, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Alibaba raised up to $13 billion in its secondary listing, proving that demand is hot for shares in the Chinese e-commerce giant despite economic concerns and political unrest in the region.
(Bloomberg) -- Crypto giants Binance Holdings Ltd. and Tron have been banned on China’s largest micro-blogging service amid what appears to be fresh steps to crack down on digital currency trading.The official accounts of exchange operator Binance and blockchain platform Tron were suspended by Twitter-like Weibo last week. At the same time watchdogs in Shanghai issued notices calling for a cleanup of companies involved in cryptocurrency trading, while one in Beijing warned against illegal exchange operations.The latest crackdown came after President Xi Jinping urged faster development of blockchain last month, hailing it as one of the core technologies requiring China-led innovations. Xi’s remarks spurred companies to jump on the blockchain bandwagon to drive share prices. State media have warned against the frenzy.The Shanghai headquarters of China’s central bank and the city’s financial regulator said in a notice they co-signed on Nov. 14 that local government agencies should work with any companies under their supervision that are tied to cryptocurrency to exit such business immediately, Bloomberg News has reported.A Binance spokeswoman said Monday that Weibo suspended the exchange’s account last Wednesday, before the notice was issued, adding that the social media platform didn’t give a reason. Binance is appealing the decision, she said. Tron founder Justin Sun told Bloomberg on Monday that he doesn’t think the Weibo account shutdown is related to the government notice. Tron is working to restore the account.Weibo didn’t respond to requests for comment.In the notice, the Shanghai regulators cited an order from China’s top internet-finance watchdog, which they said is concerned about the resurgence of speculative bubbles after the recent promotion of the blockchain technology that underpins cryptocurrencies such as Bitcoin.A representative with the Shanghai branch of the People’s Bank of China confirmed the authenticity of the notice, which has been circulating online, but referred to the city’s financial-stability office for comment. Calls to that office went unanswered.A separate announcement, published on the website of Beijing’s financial regulator on the same day, warned against the risks of illegal operations of financial-asset exchanges in the capital -- but didn’t cite crypto specifically.Bitcoin fell 0.3% on Tuesday to $8,191 as of 8:08 a.m. Hong Kong time, dropping a fifth straight day amid concern about China’s restrictions.Read more: From Pigs to Party Fealty, China Harnesses Blockchain PowerWhile China is an avid supporter of blockchain -- the central bank is working on its own digital currency -- authorities have waged a two-year campaign to restrain crypto activities amid concerns like speculation, fraud and capital flight. In 2017, China ordered an end to exchange trading of digital currencies, but trades are still rampant through alternatives like over-the-counter channels offered by exchanges Huobi and OKEx. Malta-based Binance also recently started to host OTC yuan trading.“We want to follow the recommendations very closely, and we want to promote the blockchain research and development,” Binance Founder and Chief Executive Officer “CZ” Zhao Changpeng told Bloomberg Television last week about its China strategy. “We just want to help where we can.”Zhao said Binance doesn’t have an office in Beijing, following a recent report from industry publication CoinDesk that it’s planning to open one that cited two unnamed sources. The Binance spokeswoman said Monday that the exchange doesn’t have fixed operations in mainland China at the moment.As for Tron, its controversial Chinese founder apologized in July for “excessively” promoting his charity lunch with Warren Buffett, noting it raised concerns among authorities. The lunch that Sun had won with a more than $4.6 million bid at auction was delayed and still appears not to have been rescheduled.(Updates Bitcoin level in 10th paragraph.)\--With assistance from Joanna Ossinger.To contact the reporter on this story: Zheping Huang in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Joanna Ossinger at email@example.com, Colum Murphy, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It's been a sad week for Weibo Corporation (NASDAQ:WB), who've watched their investment drop 19% to US$43.55 in the...
Weibo earnings topped estimates, but revenue came in a little light, up 2% to $467.8 million, for the Chinese social media firm that runs a site similar to Twitter. Shares fell sharply.
Sina earnings easily beat third-quarter views, while the Weibo parent narrowly topped third-quarter revenue estimates. China-based Sina is the majority owner of Weibo. Both stocks fell sharply.
BEIJING , Nov. 14, 2019 /PRNewswire/ -- Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB), a leading social media in China , today announced its unaudited financial results ...
Weibo (NASDAQ: WB ) will be releasing its next round of earnings this Thursday, November 14. For all of the relevant information, here is your guide for Thursday's Q3 earnings announcement. Earnings and ...
BEIJING, Nov. 1, 2019 /PRNewswire/ -- Weibo Corporation (WB), a leading social media for people to create, share and discover content, will announce its unaudited financial results for the third quarter of 2019 before the market opens on Thursday, November 14, 2019. Following the announcement, Weibo's management team will host a conference call from 6 AM – 7 AM Eastern Time on November 14, 2019 (or 7 PM – 8 PM Beijing Time on November 14, 2019) to present an overview of the Company's financial performance and business operations. A live webcast of the call will be available through the Company's corporate website at http://ir.weibo.com.
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Weibo Corp (NASDAQ:WB). Weibo Corp (NASDAQ:WB) was in 16 hedge […]
U.S.-listed Chinese stocks have taken a beating in the past six months, with the iShares FTSE/Xinhua China 25 Index (NYSE: FXI ) down 11.8% overall in that time. Fears over the negative economic impact ...
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. To keep it practical...
A rising tide raises all boats, right? Not so much. It's starting to look like there may be a thaw in the U.S.-China trade war, but that doesn't mean everything goes back to normal.China may strike an interim deal with the U.S. for some things it wants -- like pork and soybeans -- but won't commit to a complete deal. If China agrees to an intermediate deal, that would mean President Donald Trump can claim victory, Chinese President Xi Jinping can declare victory and the markets can continue to rally.That still depends on if the two leaders can actually agree on intermediate terms. But for all the U.S. bluster, cutting a deal before the election next year and before a recession sets in at home is much more important than a wide-ranging deal set on U.S. terms.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe tech stocks below represent some important names on both sides of the Pacific. But given their ratings in my Portfolio Grader, they're falling short of other top performers in their markets and sectors. Even if the trade war cools down, don't expect it to have much of an effect on the trends of these stocks. * 10 Battered Tech Stocks to Buy Now The seven tech stocks you need to avoid here don't come close to making my list of Bulletproof Stocks. They just aren't worth the risk of buying the dip and hoping for the best. Tech Stocks to Avoid: Sina (SINA)Source: Piotr Swat / Shutterstock.com Sina (NASDAQ:SINA) is one of China's top tech firms. It owns Weibo (NASDAQ:WB), China's version of Twitter (NYSE:TWTR). It also owns a number of other complementary sites that drive traffic in and between each other.The trouble is, the Chinese economy is slowing and that doesn't help revenue. The stock is off 16% year-to-date and 30% in the past year. It may experience a bump with the trade deal, but turning the Chinese economy around will be a different deal entirely.Granted China's economy is still more than double that of most industrialized nations, but it has to maintain a higher level of growth to keep its workforce productive and expanding.There's no doubt that SINA will see brighter days, and I once had a great win with this stock a couple of years ago. But I'm all U.S. these days, and there's still a greater downside risk with SINA than there is upside opportunity. Baidu (BIDU)Source: StreetVJ / Shutterstock.com Baidu (NASDAQ:BIDU) is the Google of China. It's not the Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) of China because its doesn't have all the far-flung ventures that Alphabet has under its umbrella, and certainly doesn't have the most popular mobile operating system on the planet.However, it is China's leading search engine. And that means it is also one of the leading companies in search-engine revenue.But like many consumer-focused digital businesses right now, it is struggling in China during this economic slowdown. And an intermediate-term trade deal also comes with its own risks, like making the markets more volatile as it may not lift Chinese consumers as much as U.S. consumers.While BIDU stock is off 32% year-to-date and 50% in the past 12 months, this isn't the time to go bottom fishing. We still need signs that the Chinese consumer is back on track. NetApp (NTAP)Source: Sundry Photography / Shutterstock.com NetApp Inc (NASDAQ:NTAP) is a data storage business that focuses on U.S. companies. It has been around since the early 1990s, so it has a solid book of business and has survived the dot-com boom and bust as well as the 2008 financial crisis. It also offers a 3.4% dividend, so it's certainly a mature company that is shareholder friendly.However, the trade war has hurt business spending since many enterprise companies are affected by the global economy. A stronger dollar means lower-valued revenue from abroad, and weak economies also mean slower and fewer sales.NTAP gets its share of this. And in its recent earnings report, management warned about slowing revenue and earnings through the rest of the year. The market pounced. While the stock is only down 5% year-to-date, it's off 34% in the past year, and that means its dividend isn't helping much. I only want the highest quality from my dividend investments -- not just a high yield. Teradata (TDC)Source: IgorGolovniov / Shutterstock.com Teradata (NYSE:TDC) is an enterprise database analytics and consulting company that has offices and clients around the globe. It was formed in 1979 as a joint venture between the California Institute of Technology and Citigroup's (NYSE:C) Citibank.Again, the problem here is the "global" part of its business. With Brexit making businesses in Europe sit on their hands while waiting for a resolution, China -- and the broader Asian market -- slowing due to the trade war and money from around the world running for safety into U.S. bonds (rising the value of the dollar), this makes it very hard to keep earnings chugging along.And all this growth also slows U.S.-based firms that rely on global growth for a piece of their business.Most of TDC's losses have come in 2019, with the stock off 12% year-to-date and almost 17% in the past year. It's not a terrible value here, but while the global economy sits on the fence between recession and expansion, it's hard to get TDC's motor started.And as with all these stocks, if things get worse before they get better, there's more downside risk here. Angi Homeservices (ANGI)Source: Jonathan Weiss / Shutterstock.com Angi Homeservices (NASDAQ:ANGI) is creating the world's largest digital marketplace for home services. And given sinking interest rates in the U.S. and relatively comfortable U.S. consumers, this stock was doing well since it primarily focuses its business in the U.S.As I've made clear in Growth Investor, housing related stocks are the place to be. And with leading online brands Angie's List and HomeAdvisor, ANGI has a big lead on its competition in this sector. But there are competitors that are nipping at its heels, like hyper-local social media service Nextdoor.Economic mixed signals have hurt this high-flier in the past year. The stock is off 65% for the year and 51% year-to-date. Yet the stock is still sitting on a trailing price-to-earnings ratio around 53.Even after that significant haircut, it's still pricey. Any more bad -- or merely uninspiring -- news could easily clip this stock more. Alliance Data Systems (ADS)Source: IgorGolovniov / Shutterstock.com Alliance Data Systems (NYSE:ADS) is technically a tech company -- but it slots in the fintech space. It is one of the leading providers of loyalty and marketing services, like private-label credit and debit cards. But its business isn't really in the cards as much as it is in the data that the cards provide to the company's customers.You can learn who uses them, how they use them and how you need to market to reach your target audiences. Whether its pharmaceuticals, diapers, financial services or travel, ADS is in the space gathering data.This the newest iteration of direct mail, but it is wildly more nuanced and yields massive amounts of data.It's a great business to be sure. But it isn't so great when you're in a slow economy. And Alliance Data Systems' global exposure means that some of its business isn't doing well right now. And even in the U.S., the consumer is spending, but not with great enthusiasm.The stock is off 10% year-to-date, but almost 45% in the past year. That's not a good trend. Until things turn around, it's best to stand clear and focus on Bulletproof Stocks. DXC Technology (DXC)Source: zakiahza / Shutterstock.com DXC Technology (NYSE:DXC) is a recent spinoff of Hewlett Packard's (NYSE:HPE) 2017 merger with Computer Sciences Corporation.The new company is a global player in the technology consulting and outsource servicing sectors. But the problem here is, not only does it have to manage the integration of the CSC merger, but it also has to figure out how to organize the company during a global economic slowdown.For example, in India, DXC is having to cut about half its offices (from 50 to 26) and cut nearly 7% of its workforce. Indian operations make up more than 33% of its workforce, and thus a large segment of its revenue.This restructuring is not helping in the current environment. And as artificial intelligence makes its way into the jobs that the U.S. previously outsourced, DXC is fighting both a tough economic environment and technological shifts in its business model.It's no surprise then that the stock is off 38% year-to-date and 64% in the past year. There's no point in rushing into this one. It's not even clear if its current plan will help it emerge from its ongoing challenges. Here's Another Reason to Demand Only the Best StocksWall Street money managers have a trick up their sleeves. It's called "window dressing." When we approach the end of a quarter, big money will often buy top-performing stocks to spruce up their returns when they report the performance of their current portfolio.The influx of cash gives those stocks even BETTER returns. That's what we're about to see as the third quarter closes at month-end.And we can go along for the ride - as long as we get positioned by, say, Monday, September 16.You won't want to let the clock run out on this. After September 16, the next buying window won't really open until next earnings season.To play this with today's top dividend growth stocks, you've really got to own my Bulletproof Stocks.Click here for all 3 steps you should take right now and learn more about this phenomenon.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.The post 7 Tech Stocks You Should Avoid Now appeared first on InvestorPlace.
In this commentary, I will examine Weibo Corporation's (NASDAQ:WB) latest earnings update (30 June 2019) and compare...
Shares of Chinese social blogging platform Weibo (NASDAQ:WB) have been in a secular downtrend ever since the trade war officially started in late January 2018. At the time, Weibo stock was a $130 stock that could do no wrong. By August 2019, Weibo stock was a $35 stock that could do no right.Source: testing / Shutterstock.com In other words, in a 19 month stretch from January 2018 to August 2019, WB stock lost more than 70% of its value and went from big-time winner to big-time loser.But, signs are starting to emerge that this multi-month decline in WB stock may be over. Specifically, over the past month, WB stock is up nearly 25% - marking one of its biggest one-month rallies over the past two years.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIs recent strength in WB stock just noise? Or is it the start of a big, multi-month rebound? I think the latter - for three big reasons.First, the fundamentals are turning a corner, and imply that the stock is undervalued here and now. Second, the optics are steadily improving, and project to keep improving for the foreseeable future. Third, the technicals support the idea that WB stock tested and held a multi-year support level at $40, and is now ready to roar higher from here. * 7 Deeply Discounted Energy Stocks to Buy The takeaway? The turnaround in WB stock is here to stay, and buying WB stock on this rebound bid seems like the smart move. 1\. Improving FundamentalsFirst, and foremost, this turnaround in WB stock seems like the real deal because the fundamentals underlying WB stock are turning a corner, and imply that the stock is undervalued here and now.Underneath the hood, Weibo's numbers last quarter showed signs of gradual improvement.Monthly active user growth quarter-over-quarter was 4.5% - the biggest sequential user growth rate in four quarters - amid multiple initiatives from management to make the platform more immersive, social, and engaging.Further, constant currency revenue growth is expected to be 7.5% next quarter, up from this quarter's 7% growth rate and ending a multi-quarter streak of decelerating revenue growth which dates back two years.Perhaps most importantly, trailing 12-month adjusted EBITDA margins dropped just 14 basis points quarter-over-quarter, the slowest compression there in three quarters. The reason? Management is effectively cutting back on sales and marketing spend.Net net, then, the quarter had all the makings of a "turnaround quarter." User growth acceleration? Check. Revenue growth trend reversal? Check. Margins starting to stabilize? Check.Given that these positive developments are the result of management's recent actions, I think that these positive developments have a runway. Broadly, I think Weibo can and will return to double-digit revenue growth over the next several years, while margins will inch higher with improved scale, paving the path for $5 in EPS by fiscal 2025.Based on a market-average 16-forward multiple and 10% discount rate, that equates to a 2019 price target for WB stock of $50. 2\. Improving OpticsSecond, the turnaround in WB stock appears to have legs because the optics surrounding the stock are improving, and will continue to improve for the foreseeable future.There are three things here. First, China's economy, which has been rattled by the trade war for 20 months, is finally starting to stabilize, led by a surprising rebound in China's consumer economy. This stabilization should persist, and potentially even lead to a rebound. As the China economic environment does improve, it will create a rising which will lift all boats, Weibo stock included.Second, the U.S.-China trade war, which has coincided with a 70% drop in WB stock, is cooling off. The U.S. and China have agreed to resume trade talks in October. Given that neither side wants to escalate this trade war much further, I think that the October trade talks will actually lead to a meaningful resolution, or won't result in any further escalation at the very least.With the trade war headwind easing both now and for the foreseeable future, WB stock can and should move higher with most other China tech stocks.Third, Weibo is launching its own Instagram-like platform, dubbed Oasis. This new product has the potential to be really, really big. It's an image-focused, social lifestyle app that appears to be catered towards visual experience sharing. Apps like this in the U.S. - see Instagram, Snap (NYSE:SNAP), Tik Tok, etc - have done very well. Oasis could do just as well in China. The hype surrounding this new app will inevitably provide a multi-quarter lift to Weibo investor sentiment. 3\. The Technicals Support a ReversalThe third big reason to believe in the WB stock turnaround is that the technicals imply that this stock could be in the process of a huge reversal.See the attached chart. We've all seen charts like this before. They look like pyramids. The stock goes up super big in the first half of the chart, and then proceeds to give back all those gains in the second half of the chart. Click to EnlargeBut, every time you get this pyramid formation, you come to a point where the stock has retraced all of its gains in the given time frame. WB stock is at that point right now. By eclipsing $40 in August 2019, Weibo stock has given up all of its gains over the past few years and has completed this pyramid formation.What's next? If the stock doesn't hold the support level, more downside. If it does, a potential reversal.Weibo stock did hold this support level around $40. It has since shown significant signs of strength in rebounding to the mid-$40's. Thus, the technicals here seem to imply that the worst of the Weibo stock decline is over. Bottom Line on Weibo StockWeibo stock has been in a secular downtrend since early 2018. But, all major signs (improving fundamentals, favorable optics, and bullish technicals) imply that this downtrend is over.As such, over the next several months to quarters, I think WB stock can and will stage a meaningful recovery rally.As of this writing, Luke Lango did not a hold a position in any of the aforementioned securities, but may initiate a long position in WB within the next 72 hours. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 3 Big Reasons to Believe in the Weibo Stock Turnaround appeared first on InvestorPlace.
Chinese microblogging website Weibo Corp has taken down an Instagram-like app just three days after its launch and apologised following accusations of plagiarism about the app's logo, in a stumble for efforts to find new sources of growth. Weibo, launched by Sina Corp in 2009, is one of China's most established social networking companies alongside the likes of Tencent Holdings Ltd. But it has been seeking new ways to grow in the face of competition from startups including short video apps Douyin and Kuaishou. The company, backed by Alibaba Group Holding Ltd, launched image-sharing app Oasis on Monday.