Extended markets ran into resistance where expected this week, within the Sept. S&P 2810-2820 (S...
Weibo: Social Media in China
07/14/2016 10:00 am EST
Our latest featured breakout stock operates a social media platform for people speaking Chinese, notes technical analyst Leo Fasciocco, editor of Ticker Tape Digest.
Weibo (WB), based in China, offers social products to promote social interaction and notifications; the company provides third-party online games, including role playing, card, strategy, and real life simulation games.
It also offers advertising and marketing solutions, such as social display ads; and promoted feeds, accounts to enable its customers to promote their brands.
This year, analysts are forecasting a 156% surge in net to 41 cents a share from 16 cents a year ago.
Weibo sells with a price-earnings ratio of 75. That is high but okay given the strong earnings outlook.
Going out to 2017, the Street predicts a 110% jump in net to 86 cents a share from the anticipated 41 cents this year.
The stock came public in 2014 at $16.27. The shares drifted sideways and then lower, making a low of $8.78 late last year.
However, after that, it has worked higher aggressively. WB's 12-month performance chart shows the stock soaring 130%.
The stock is trending higher above its rising 50-day moving average line and its momentum indicator is strongly bullish. The latest push to a new high is bullish and could draw in more buying.
By Leo Fasciocco, Editor of Ticker Tape Digest
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