Sina Corporation (SINA) : Traders are bullish on Sina Corporation (SINA) as it has outperformed the S&P 500 by a wide margin of 28.71% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.9%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.86% in the last 1 week, and is up 29.2% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
SINA Corporation is up 56.24% in the last 3-month period. Year-to-Date the stock performance stands at 44.03%. The stock has recorded a 20-day Moving Average of 16.17% and the 50-Day Moving Average is 28.7%.
Sina Corporation (NASDAQ:SINA): The stock opened at $70.82 on Friday but the bulls could not build on the opening and the stock topped out at $71.52 for the day. The stock traded down to $70.13 during the day, due to lack of any buying support eventually closed down at $71.15 with a loss of -0.17% for the day. The stock had closed at $71.27 on the previous day. The total traded volume was 992,982 shares.
Also, Citigroup initiates coverage on Sina Corporation (NASDAQ:SINA). The shares have now been rated Buy by the stock experts at the ratings house. Citigroup announces the current price target of $69 per share on Sina Corporation. The rating by the firm was issued on August 5, 2016.
SINA Corporation is an online media company serving China and the global Chinese communities. The Company operates its business through three business segments: SINA Portal, Weibo and other businesses. Its digital media network of SINA.com, SINA mobile and Weibo enables Internet users to access media and users generated content (UGC) in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances. SINA.com offers professional content on each of its region-specific Websites and a range of complementary offerings. Its mobile portal, SINA.cn, provides news information and entertainment content from SINA.com customized for mobile users in WAP (mobile browser) and mobile application format, such as SINA News, SINA Sports, SINA Finance, SINA Entertainment and SINA Blog. Weibo is a social media platform for people to create, distribute and discover Chinese-language content.