Boston, MA 04/22/2014 (wallstreetpr) – Weibo Corp (ADR) (NASDAQ:WB) is a Chinese micro blogging site, which is owned by the Chinese company SINA Corp (NASDAQ:SINA). Though Weibo rocked the market debut but it has been reporting losses for the past three years. This company has had soaring profits to boast off recently and still is enjoying the limelight. The success story of Weibo is surely attractive and compelling.
Weibo has been moving upwards, quite literally, since its share prices have gone up. It is yet to be seen whether Weibo keeps on breaking its profit earning records or experience a downfall, now that the market in which Weibo has been functioning has been in a weak state. Let us hope that the days of losses do not come back to haunt Weibo anymore.
Weibo’s Rocking Debut
Reportedly, Weibo Corp (ADR) (NASDAQ:WB) had a rocking debut in the U.S. The shares of the company open below the IPO price but came around later. Weibo has performed better than was expected of it in the first go. But then there are concerns about the fact that the growth of the Chinese Internet industry will be hurt by China’s Censorship regime.
Shutting Down Websites
China has been shutting down websites. Reportedly, about 110 websites have been made to cease their operations till now. The stocks of the Chinese company SINA will face a setback, and so will Weibo. Though the beginning of the debut in the U.S. market showed promising results, the later half of the week was not very pleasant. Weibo dropped most out of all in a week.
China has made a nightmarish move by blocking social networking sites like Facebook and the country’s top networking sites like WeChat and Sina Weibo over reasons as sites like these are a threat to the social stability of the country. China has about 618 million Internet users currently, who won’t be feeling socially stable right now. Apart from affect users, this censorship will affect the stocks of Chines companies like Weibo Corp (ADR) (NASDAQ:WB) who will face a major setback.
