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Weibo (WB) Stock Hits All-Time High Ahead of Q2 Earnings

Shares of Weibo WB skyrocketed to a new all-time high on Monday, just days before the company is set to report its second-quarter earnings.

Weibo, which is often referred to as the Chinese Twitter TWTR, has more than doubled its share price since the start of the year. The company climbed from $40.60 a share at the end of December 2016 to the nearly $86 per share it rests at today.

Shares of Weibo were up 10% in afternoon trading on Monday, with the company reaching a new 52-week and all-time intraday trading high of $86.87 per share. Weibo is currently a Zacks Rank #3 (Hold) and scored a “B” grade for Growth in our Style Score system.

Chinese internet and media company SINA Corporation SINA, which owns Weibo, was up 4.64% on Monday. E-commerce power Alibaba BABA, which holds a reported 31.5% stake in the company, saw its stock price gain 2.98%.

The Chinese social media powerhouse is set to announce its second quarter earnings before the opening bell on Wednesday, August 8. Now, let’s take a further look into the company’s current financials and growth opportunities.

Recent Growth

Weibo’s net revenues jumped 67% year-over-year to $199.2 million in the company’s first fiscal quarter of 2017. Massive advertising and marketing revenues, which climbed 71% from the year-ago period to $169.3 million, helped to spur the company’s...