Notable Mover: Will 58.com Inc (ADR) Short Squeeze Soon?

Notable Mover: Will 58.com Inc (ADR) Short Squeeze Soon?

The stock of 58.com Inc (ADR) (NYSE:WUBA) hit a new 52-week low and has $29.22 target or 9.00% below today’s $32.11 share price. The 6 months bearish chart indicates high risk for the $4.54 billion company. The 1-year low was reported on Nov, 16 by Barchart.com. If the $29.22 price target is reached, the company will be worth $408.60 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 597,982 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 48.64% since April 14, 2016 and is downtrending. It has underperformed by 53.33% the S&P500.

58.com Inc (ADR) (NYSE:WUBA) Ratings Coverage

Out of 11 analysts covering 58.com (NYSE:WUBA), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. 58.com has been the topic of 14 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Buy” rating by HSBC on Tuesday, December 15. Brean Capital downgraded the shares of WUBA in a report on Friday, November 11 to “Neutral” rating. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Overweight” rating by Morgan Stanley on Tuesday, September 1. The firm earned “Underperform” rating on Friday, November 11 by CLSA. Credit Agricole initiated the shares of WUBA in a report on Thursday, October 15 with “Sell” rating. The rating was downgraded by Credit Suisse to “Neutral” on Friday, November 11. Brean Capital initiated the shares of WUBA in a report on Friday, June 3 with “Buy” rating. The rating was initiated by Macquarie Research on Friday, July 8 with “Outperform”. Deutsche Bank initiated 58.com Inc (ADR) (NYSE:WUBA) rating on Wednesday, October 5. Deutsche Bank has “Buy” rating and $65 price target. The rating was initiated by CLSA with “Sell” on Thursday, October 15.

According to Zacks Investment Research, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China.”

More news for 58.com Inc (ADR) (NYSE:WUBA) were recently published by: Fool.com, which released: “Why 58.com Inc. (ADR) Stock Plunged Today” on August 18, 2016. Marketwatch.com‘s article titled: “/quotes/zigman/3870025/realtime” and published on October 31, 2013 is yet another important article.

WUBA Company Profile

58.com Inc., incorporated on May 1, 2011, is a holding company. The Company’s business consists of its online classifieds and listing platforms. The Company’s online classifieds and listings platforms enable local merchants and clients to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform. In addition, 58 Daojia Inc. (58 Home), its subsidiary, operates a mobile closed-loop transactional platform for home services, which directly connects clients and individual service providers for local services, such as home cleaning, moving services and manicure services provided at home.

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