Weibo Makes New All-Time High

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.