Chinese Internet Stocks to Buy: Weibo (WB)
Weibo Corp (ADR) (NASDAQ:WB) has been compared to Twitter, but the Chinese company’s performance has been so much better than that of its American counterpart. Weibo’s ad revenues jumped 42% last year, as its user base surged 33% in 2016.
Live streaming and video have helped increase the platform’s popularity, and it scored a coup in July when it became the NBA’s official China partner. The NBA is very popular in China.
Additionally, even though Weibo on Feb. 22 reported results and guidance that surpassed analysts’ consensus estimate, Weibo’s stock is down around 15% since that time. The decline has created a great entry point in Weibo.