Weibo Corp (ADR) WB shares are trading higher by $8.52 at $107.80 in Wednesday's session.
The catalyst for the rally is a Q3 adjusted EPS beat of 6 cents along with a sales beat of $34.3 million. The company also raised its Q4 sales guidance.
After a higher open, Weibo had a brief retreat to $99.53 before resuming its move higher. It has continued to make new highs for the session, surpassing its former all-time high ($108.30) by reaching $108.82 as of 2:07 p.m. EST. Since making that high, it's fallen back into the $107.00 handle.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.