Sell: Remainder of Weibo (WB)
From Cabot Emerging Markets Investor
Last Wednesday, Weibo (WB) reported quarterly results that were ostensibly fine—revenue and earnings growth above estimates and guidance in line with estimates—but produced a negative reaction from investors. The stock fell on very high volume and has continued to drop. WB fell below its 200-day moving average on Friday and hasn’t been able to bounce.
Accordingly, tonight we’re going to sell our remaining half position in the stock and hold the cash. (We sold the first half of our position on April 20 for a small profit.)
Paul Goodwin, Cabot Emerging Markets Investor, www.cabotwealth.com, 978-745-5532, May 15, 2018