58.com (WUBA) : The total money flow in 58.com (WUBA) was negative ($1.03 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $4.6 million. Transactions on upticks were comparatively lower at $3.57 million. The uptick to downtick ratio was 0.78. The total block trades on downticks were valued at $0.65 million. The money flow during block trades was negative ($0.65 million) when the stock traded with a gain of $52 cent. 58.com (WUBA) was $46.69, an increase of 1.13% over the previous days close.
Also, Brokerage firm CLSA upgrades its rating on 58.com (NYSE:WUBA). The shares have been rated Buy. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on August 8, 2016.
58.com Inc. has lost 1.54% in the last five trading days and dropped 10.94% in the last 4 weeks. 58.com Inc. has dropped 11.52% during the last 3-month period . Year-to-Date the stock performance stands at -30.11%.
58.com (NYSE:WUBA): The stock opened at $46.23 on Tuesday but the bulls could not build on the opening and the stock topped out at $46.86 for the day. The stock traded down to $46.06 during the day, due to lack of any buying support eventually closed down at $46.10 with a loss of -0.15% for the day. The stock had closed at $46.17 on the previous day. The total traded volume was 1,051,679 shares.
58.com Inc. (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Companys online marketplace enables local merchants and consumers to connect, share information and conduct business. The Companys online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services. The Company conducts automatic and manual screening using its technology and processes. The Companys users post listings on its marketplace covering a range of services and products on its Website, www.58.com. The Company organizes the listings on its marketplace by content categories, such as jobs, housing, used goods, automotive, yellow pages, pets and tickets.