Momentum Trader Moves in on MOMO
04/26/2017 2:45 am EST
With most U.S. investors focused on the Trump rally, almost all of them have missed out on a strong stock market rally in China, explaining momentum trading expert Nicholas Vardy, editor of the Momentum Trader Alert.
With domestic Chinese A-shares up 8.32% this year, the Chinese stock market has returned about twice the gains of the S&P 500.
This week’s Momentum Trader Alert recommendation shifts our attention to a Chinese Internet play that popped up on our momentum screens as a top performer.
Headquartered in Beijing, China, Momo Inc. (MOMO) provides a mobile-based social networking platform in the People's Republic of China.
Momo’s platform includes mobile applications and related features, functionalities, tools and services.
Momo also provides membership subscription and other services, which include paid emoticons and mobile marketing services.
With the company closing in on 100 million users, Momo’s management expects earnings to grow as much as 377% year over year in 2017. Recommendation: Buy MOMO at market today and place your stop at $29.00.