Weibo-SW (09898) rebounded nearly 3% in late trading and fell 3.5% in early trading. As of press release, it rose 2.84% to HK$72.5, with a turnover of HK$6.891,700.
The Zhitong Finance App learned that Weibo-SW (09898) rebounded nearly 3% in late trading and fell 3.5% in early trading. As of press release, it rose 2.84% to HK$72.5, with a turnover of HK$6.891,700.
According to the news, Weibo will release the first quarter results after the market today. UBS previously reported that Weibo's revenue for the first quarter of this year is expected to drop 2% year on year, increase 1% year on year in the second quarter, and return to 6% and 7% growth in the third and fourth quarters, respectively. Since Weibo's valuation has dropped to about 5 times the predicted price-earnings ratio in 2024, which is the lowest level among major Chinese internet stocks, the bank believes that Weibo's stock price already reflects weak advertising performance, so there is limited room for decline. At the same time, it believes that the potential recovery in the second half of this year will be a catalyst, and it is believed that Weibo's further commitment to shareholder returns will provide downside protection.