SINA Plunges On Golman Sachs Downgrade (SINA)

Shares of high flying Chinese internet stock SINA Corp. SINA are cracking today under the weight of a downgrade from Goldman Sachs GS. The investment firm downgraded the stock from Neutral to Sell citing unfavorable risk/reward in the name. Goldman also raised its price target from $78 to $105, but with SINA shares closing above $140 yesterday, the price target bump was hardly an endorsement. SINA is currently trading down around 7% to $133.10. Volume has been very heavy.