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Weibo debuts on the NASDAQ today

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Weibo Corp (ADR) (NASDAQ:WB), the Twitter of China will start trading today on the NASDAQ. The IPO was priced at $17 a share, which is at the lower end of its expected range of $17 to $19 a share. At the price of $17 a share, Weibo will have a market cap of $3.6 billion. As a result of tech stocks being hammered lately, Weibo also reduced the number of shares it was planning to sell in the IPO by 3.2 million shares. As of March 31, Weibo has 143.8 million active monthly users. Shares might not fare well because investors are still concerned about censorship from the Chinese government.