Today’s Research Reports on Trending Tickers: Momo and 58.com
Wall Street closed up on Thursday as tech shares rallied and trade tensions eased on the hopes of a fresh round of trade talks that could potentially take place later this month. The Dow Jones Industrial Average climbed 0.57 percent to close at 26,145.99, while the S&P 500 Index jumped 0.53 percent to close at 2,904.18. The Nasdaq Composite Index gained 0.75 percent to close at 8,013.71.
“Markets today are moving primarily on China trade [and] tariff news,” according to Mark Esposito, chief executive of Esposito Securities in Dallas. “U.S. officials reaching out to China saying they would be amenable to additional trade talks later this month—that’s all it took to get and keep the Dow up triple digits,” Esposito added.
RDI Initiates Coverage on:
Momo’s stock jumped 6.69% Thursday, to close the day at $46.87. The stock recorded a trading volume of 6,145,763 shares, which was above its three months average volume of 4,596,787 shares. In the last year, Momo’s shares have traded in a range of 22.49 – 54.24. The share price has gained 108.4% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $42.34 is above its 200-day moving average of $41.22. Shares of the company are trading at a Price to Earnings ratio of 22.98. Shares of Momo have gained roughly 15.7 percent in the past month and are up 91.46 percent year-to-date.
Access RDI’s Momo Inc. Research Report at:
On Thursday, shares of 58.com recorded a trading volume of 1,838,237 shares, which was above the three months average volume of 1,316,353 shares. The stock ended the day 9.25% higher at $74.49. The share price has fallen 17.14% from its 52 week high with a 52 week trading range of 56.70 – 89.90. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $69.24 is below its 200-day moving average of $76.23. Shares of the company are trading at a Price to Earnings ratio of 44.82. Shares of 58.com have gained roughly 11.88 percent in the past month and are up 4.08 percent year-to-date.
Access RDI’s 58.com Inc. Research Report at:
Our Actionable Research on Momo Inc. (NASDAQ:MOMO) and 58.com Inc. (NYSE:WUBA) can be downloaded free of charge at Research Driven Investing.
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