Chinese social network Weibo has been accused of being a Twitter clone. That may not be entirely accurate, but certainly Weibo would have loved to copy Twitter’s 73% stock jump on its first day of trading last year. The results haven’t been quite as spectacular, but Weibo made a nice pop, reaching as high as 40% above its debut price as of 1:58pm EDT, nearly two hours after it began trading on the NASDAQ. By the end of the trading day, Weibo shares settled up 19%, at $20.24.
Posted on: Fri, 18 Apr 2014 21:45:23 +0000
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