Price Action Don’t Lie: Momo Inc (ADR) Just Reaches Record High?

Price Action Don't Lie: Momo Inc (ADR) Just Reaches Record High?

The stock of Momo Inc (ADR) (NASDAQ:MOMO) reached all time high today, Oct, 5 and still has $31.46 target or 23.00% above today’s $25.58 share price. This indicates more upside for the $5.45 billion company. This technical setup was reported by Barchart.com. If the $31.46 PT is reached, the company will be worth $1.25 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 3.01M shares traded hands. Momo Inc (ADR) (NASDAQ:MOMO) has risen 101.32% since March 2, 2016 and is uptrending. It has outperformed by 93.06% the S&P500.

Analysts await Momo Inc (ADR) (NASDAQ:MOMO) to report earnings on November, 17. MOMO’s profit will be $17.04M for 79.94 P/E if the $0.08 EPS becomes a reality. After $0.08 actual earnings per share reported by Momo Inc (ADR) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “Momo Inc. provides mobile-based social networking platform primarily in the Peoples Republic of China. Its platform includes mobile applications and related features, functionalities, tools and services. The Company offers two types of mobile game services non-exclusive mobile game services and exclusive mobile game services. It also provides membership subscription and other services which include paid emoticons and mobile marketing services. Momo Inc. is headquartered in Beijing, the Peoples Republic of China.”

More recent Momo Inc (ADR) (NASDAQ:MOMO) news were published by: Marketwatch.com which released: “Momo Inc. ADR NASDAQ: MOMO” on November 20, 2013. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on June 09, 2013. Investorplace.com‘s news article titled: “MOMO Stock: Why Momo Inc (ADR) Is Looking REALLY Attractive” with publication date: May 13, 2016 was also an interesting one.

MOMO Company Profile

Momo Inc., incorporated on July 1, 2014, is a holding company. The Firm operates Momo, a mobile social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, clients and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform. It also offers live music and entertainment broadcasts on its Momo platform. The Momo mobile application, which is available on android, iPhone operating system (iOS) and Windows platforms, enables users to establish social relationships based on locations and interests. Momo offers a personal way for users to discover people nearby, and the Company facilitates the connecting, communicating, interacting, and content sharing with others. Momo features various location and interest features, such as Nearby functions and other functions.

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