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500.com Limited (WBAI) provides online sports lottery services in the Peoples Republic of China.
It operates as an aggregator and processor of lottery purchase orders from its registered user accounts.
The company offers a suite of online lottery services, information, user tools, and virtual community venues to its users. Its lottery sales services include individual lottery purchase, lottery pool purchase, automatic tag-along purchase, recurring purchase, and locked-in lottery number purchase services.
The company provides its services through its mobile applications to mobile users, as well as through its online platform. As of September 30, 2013, it had 18.4 million total registered accounts.
Shares of this recent IPO are heading higher in an "upward trading channel". We expect shares to continue to rise in this channel.
52-Week Trading Range: $18.14 - $48.43
Entry Point: $45.97
Stop Loss: $43.67
Target Price: $50.57
WBAI reached our target. Position closed at $50.70.
