Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Weibo Corp (ADR) (NASDAQ: WB) gained more than 14 percent in heavy trading Thursday on a rumor the company could be acquired by Alibaba Holdings Corp.
Alibaba has an 18 percent stake in Weibo, sometimes seen as China's answer to Twitter, and has a market capitalization of $4.72 billion.
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The recent acquisitions by Alibaba of AutoNavi and UCweb were comparable in that Alibaba held sizable stakes before making a deal, JG Capital analyst Henry Guo told Reuters.
"They all have the similar situation: controlling a smaller percentage of ownership in the beginning and then acquiring 100 percent the company," Guo said.
Also Thursday, T.H. Capital initiated Weibo coverage with a Buy rating and $24 target citing its 84 percent annual growth rate.
More than seven million Weibo shares changed hands Thursday, compared with its average daily volume of about 900,000 shares.
Weibo traded recently at $24.44, up 13.7 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.