SINA Corp (SINA) Down After Topping Expectations, Weibo Corp (WB) Returning To Black

In contrast, more hedge fund capital flowed into Weibo Corp (ADR) (NASDAQ:WB)’s stock by the end of March, as it saw a 54.78% quarter-over-quarter increase in hedge fund holdings. The increase is amplified by the over 9% decline of the stock in said quarter. There were also six hedge funds with long positions in Weibo’s stock by the end of March, up by two from the prior quarter. On the other hand, only 0.35% of Weibo’s stock is owned by hedge funds we track. Rob Citrone’s Discovery Capital Management was the largest hedge fund stakeholder in Weibo by the end of June, holding 799,100 shares, all of which the firm bought in the second quarter.

While we do not recommend a long position in SINA Corp (NASDAQ:SINA) at the moment due to declining smart money sentiment, we do for Weibo Corp (ADR) (NASDAQ:WB), which appears to be garnering more support and could be ready for a move to the up side.

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