Shares of Weibo (NASDAQ:WB), a Twitter-like social network operator, closed Thursday's trading 12.3% higher; earlier in the day, the stock had gained as much as 12.8%. Weibo itself posted no news of note today, but the stock was primed to post a big gain as trade tensions between Washington and Beijing appeared to ease up. On top of that, a Fidelity International analyst published a bullish note on Chinese tech stocks this morning, driving Weibo and its sector peers even higher.
Chinese leaders are reportedly talking directly to their American peers these days, with a heavy focus on unsnarling the tariff-tinged trade conflict. Even after today's big jump, Weibo's shares still trade 53% below their 52-week highs due to the trade tensions.
Weibo investors are hoping for a quick and clean resolution of the international trade conflict. To be clear, the company is producing a steady stream of strong business results that often leave analyst estimates behind, including 68% sales growth and 88% higher earnings in the most recent quarterly report. If and when the Sino-American situation settles down, Chinese tech companies in general and Weibo, in particular, seem to be poised for some impressive bounces.