China’s ”Twitter” Weibo Drops After 41% Surge: Chart

1200x-1The Chinese social Media Weibo popularly known as the ‘’Chinese Twitter’’ although, Ken Hong, general manager for Weibo Corp. Marketing Strategy, said that’s not an accurate description. “This definition is no longer acceptable. It’s a simple way to get a sense of what Weibo is, but it’s evolved so much.”

With the pronunciation “way-baw,” the company is one of the largest mobile social-media platforms in the world, serving one of the most Internet-savvy mobile-centric markets out there: China. For every mobile phone sold in the U.S., six are sold in China. The country presently has some 632 million people online to the United States’ 300 million, and its $2 trillion in annual e-commerce transactions completely dwarfs the United States’ own $224 billion.

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Weibo Corp., the Chinese social-media service is probably running out of steam after rallying 41 percent this year, according to traders and analysts. Short interest has surged to a seven-month high of 2.4 million shares, and brokerages on average forecast a 7.7 percent drop over the next 12 months, data compiled by Markit Ltd. and Bloomberg show. The U.S.-traded stock sells for 38 times projected earnings, exceeding the average of 10 global peers, including Facebook Inc.

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