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SINA Corporation (SINA) operates as an online media company in the Peoples Republic of China.
It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including news, sporting events news, automobile-related news, business news coverage and personal finance columns, entertainment news and events, luxury, technology, digital products reviews, luxury goods and services, collectibles, and video products, as well as an interactive platform for fashion-conscious users to share comments and ideas on health, cosmetics, and beauty topics.
The company also operates Weibo.com that allows users to send feeds in the form of text, photo, video, and music to their opted-in followers, interest groups, or selected individuals privately; send messages in the form of text, voice, picture, and emotions, as well as provides social networking services; and an open application programming interface platform that allows its users to access internally and third-party developed applications. In addition, it offers mobile value-added services, which allow users to receive news and information; to download ring tones, mobile games, and pictures; and to participate in dating and friendship communities. Further, the company operates game portal that provides users with downloads and gateway access to popular online games, information and updates on popular online and PC games, and value-added application tools.
Shares are in the process of forming a bullish "flag" after AliBaba agreed to invest $380 million in the company's Weib.com. The agreement also contains a provision that will allow Alibaba to increase its Weibo stake to 30% at an unspecified date. Higher share prices are expected for Sina.
52-Week Trading Range: $41.14 - $70.00
Entry Point: $56
Stop Loss: $53.20
Target Price: $61.60
We closed SINA position at $61.70 after it reached our target price. If you elect to stay in this position, raise your stop loss to $60 to protect your gains.
