The stock has been sluggish since its April IPO on valuation worries, and today’s first-quarter results, net loss more than doubled to $47.4 million despite a 161% revenue spike — coupled with downbeat guidance only reinforce those concerns. Weibo Corp (ADR) (NASDAQ:WB) grew its monthly active users by 34%, to 143.8 million, but Mr. Market’s response suggests the company isn’t growing fast enough to justify its seemingly lofty price multiples. Weibo Corp (ADR) (NASDAQ:WB) stock opened today at $18.30 and is currently trading at $18.38. The stock showed a positive weekly performance of 1.55%.
– Shanda Games Limited (NASDAQ:GAME) has been informed by Shanda Interactive Entertainment Limited (“Shanda Interactive”), the controlling shareholder of Shanda Games, that CAP IV Engagement Limited, an affiliate of Carlyle Asia Partners IV, L.P., entered into an adherence agreement on May 19, 2014 to become a party to the consortium agreement dated as of January 27, 2014 among Shanda Interactive, Primavera Capital Fund I L.P., an affiliate of Primavera Capital Limited, Perfect World Co., Ltd. and FV Investment Holdings an affiliate of FountainVest Partners, and participate as a new member of the consortium in the proposed “going private” transaction with respect to Shanda Games. Shanda Games Limited (ADR) (NASDAQ:GAME) stock opened at $6.67, in current trading session and currently is at $6.67, by losing -0.15%. The 52 week range of $3.74 – $7.00. Company’s market capitalization is 1.79 billion.
The Shareholders Foundation announces that an investigation on behalf of investors of 500.com Ltd (NYSE:WBAI) shares is ongoing over potential securities laws violations by 500.com Ltd and certain of its directors and officers in connection certain financial statements. 500.com Ltd (NYSE:WBAI) stock is currently trading at $32.75. The EPS of the stock is 0.75. Company’s market capitalization is 1.27 billion.
Renren Inc. (NYSE:RENN) on 23 may reported $24.9 million revenue, down 19% from a quarter ago and 40% from a year ago. Gross margin dropped 7.2 percentage poitns to 35%. But Renren reported net profit of $36.1 million, thanks to $27.1 million gain on short-term investments and $57.1 million gain on sale of remaining stake of Nuomi. Renren Inc. (NYSE:RENN) stock opened the session at $3.43, and now is at $3.35. The 52 week range of the Renren Inc. (NYSE:RENN) stock remained $2.75 – $4.79 and the day range was $3.34 – $3.43.
MeetMe, Inc. (NASDAQ:MEET), the public market leader for social discovery, has launched its Friend Suggestions feature on its iPhone application. The feature, previously available on the web platform, surfaces a “People You Might Like” section within Feed and Friends, with the goal of driving more friend requests, new friendships, and ultimately, new chat conversations. MeetMe Inc. (NASDAQ:MEET) stock opened today at $1.99 and is currently trading at $1.93. The stock showed a positive weekly performance of 0.51%.
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