Weibo's Debut Raising Investigators' Concerns
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Weibo, China’s version of Twitter, was priced late Wednesday at $17 per share, which was on the edge of its lowest price range.
(Sina Weibo via Commons Wikimedia)
The stock trades under the symbol “WB” on the Nasdaq Global Select Market. Weibo started trading at $16.27, hit a high point of $19.03, and then fell.
Weibo claims that it has 130 million active users. At the IPO price, Weibo has a market value of about $3.6 billion. The deal raised $286 million for Weibo. However, Weibo has lost about $48 million since the first quarter, which is double the number of its loss in the same period last year. There's concerns that Weibo has past its peak.
Analysts show their comments on Weibo's debut, and give out their suggests.
Read More at CNN Money and The Wall Street Journal.
Reach Executive Producer Jianyu Zhao here.
