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Momo Stock Advanced Ahead of Q1 Results

NEW YORK (TheStreet) -- Momo (MOMO) stock closed Monday's trading session up 2.83% to $12.01 on heavy trading volume ahead of the company's first quarter 2016 earnings set to be released on Tuesday before the market open.

For the recent period, Wall Street is looking for earnings of 5 cents a share. A year ago, the company earned 2 cents a share.

Last month, shares got a boost after Alibaba (BABA) affiliates joined the group seeking to buy out the Beijing-based social network.

Momo CEO Yan Tang initially proposed the buyout in June, just six months after the company raised $248 million in its...