What happened
Weibo (WB 4.92%) shareholders outpaced a declining market in October as the stock rose 14% compared to the S&P 500's 2.8% drop, according to data provided by S&P Global Market Intelligence.
That rally erased only a portion of the Chinese social media stock's recent losses, though, and shares remain lower so far in 2020.
Image source: Getty Images.
So what
The last few weeks have been busy for Weibo investors. The company posted a well-received earnings report on Sept. 28, which included what management described as encouraging progress on monetization and user growth and engagement metrics.
Weibo shares were also impacted by news that SINA, its parent company, is going private in a nearly $3 billion buyout deal.
Now what
Weibo, which has been called an international stock version of Twitter, is predicting that sales declines will moderate to between 5% and 7% in the third quarter, which started in July and runs through September. Management will update investors on those actual operating results, and on any potential impact from SINA's go-private deal, when they announce fiscal third-quarter results later in November.
