Weibo's (NASDAQ:WB) Earnings Trajectory Could Turn Positive as the Stock Rises 3.6% This Past Week
Technology and real estate stocks led the gains, Hang Seng Index broke through the low-range mode.
By ATFX Hong Kong shares rose more than 300 points this morning and then slowed down. The National Bureau of Statistics announced that CPI in July rose 0.5% year-on-year, higher than market expectations. The mainland stock market stabilized this morning, bringing a boost to Hong Kong stocks. The Hang Seng Index rose 299 points or 1.8% to 17,191 points at midday; the National Index rose 115 points or 1.9% to 6,056 points; and the Hang Seng Tech Index rose 98 points or 2.9% to 3,465 points. Technology stocks rose more than 1.9% in the afternoon, with Semiconductor Manufacturing International Corporation (00981) leading the way, followed by Baidu (09888), Netease (09999), Weibo (09898), and Kuaishou (01).
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Weibo-SW (09898.HK): Will release Q2 and interim financial results on August 22.
Weibo-SW (09898.HK) announced that the board of directors will hold a board meeting on August 21, 2024 (Wednesday) (Hong Kong time), including approving the company's unaudited financial performance and announcements for the three and six months ended June 30, 2024 ('Q2 2024 and Mid-Year Financial Performance 2024'). The company will trade on the Hong Kong Stock Exchange website www.hkexnews.com after the Hong Kong Stock Exchange trading session and before the opening of the US stock market on August 22, 2024 (Thursday) (Hong Kong time).
WB-SW: DATE OF BOARD MEETING ANDDATE OF PUBLICATION OF SECOND QUARTER AND INTERIM 2024FINANCIAL RESULTS ANNOUNCEMENT
Here's What's Concerning About Weibo's (NASDAQ:WB) Returns On Capital
HK stocks surged | Weibo-SW(09898) rose more than 4% and collaborated with Iqiyi to release popular drama and variety AI character accounts. The company may maintain a $0.2 billion annual dividend.
Weibo-SW(09898) is up over 4%, as of press time, up 4.25%, at HKD 67.45, with a turnover of 3.0098 million Hong Kong dollars.
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Weibo is currently shifting its marketing budget towards channels with higher ROI. According to Morgan Stanley, this should increase the ratio of DAU/MAU (daily/monthly active users).
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