Shares of Weibo Corporation (NASDAQ:WB) traded today at $57.60, eclipsing its 52-week high. So far today approximately 309,000 shares have been exchanged, as compared to an average 30-day volume of 1.9 million shares.
In the past 52 weeks, Weibo Corporation share prices are bracketed by a low of $28.93 and a high of $57.60 and is now at $55.81, 93% above that low price.
There is potential upside of 18.4% for shares of Weibo Corporation based on a current price of $55.81 and an average consensus analyst price target of $66.05.
Weibo is the largest social media platform in China. As of 2016, Weibo had 313 million monthly active users and 139 million daily active users, many of whom are drawn there by the millions of key opinion leaders in entertainment, sports, and business circles. Sina is the major shareholder, holding 49.9% of shares and with 75% voting power; Alibaba holds 31.5% of shares and 14.8% voting power.
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