Weibo Corp (NASDAQ: WB) and Momo Inc (NASDAQ: MOMO), two social media platforms designed for the Chinese market, are each trading more than 6 percent higher in Monday's session.
While there is no compelling news out on Momo, Weibo received a reiterated Buy rating From T.H. Capital Friday, Insider Monkey reports. The T.H. Capital analyst also lifted their price target to $60 from $38.
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Shares of Momo may be moving as a sympathy or peer play. Credit Suisse recently initiated coverage on Momo with an Outperform rating and a $29 price target, implying about 14.5 percent upside.
These stocks may also be getting a boost from pent-up demand, as the Chinese markets were closed last week for the nation's seven-day "Golden Week" holiday.
In Monday's early afternoon trading, Weibo stock was valued at $55.05 per share, with Momo trading hands at $25.31, up 6 and 7 percent, respectively, from where they closed Friday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.