Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of 58.com Inc. (NYSE:WUBA) rose nearly 15% Tuesday after SEC filings revealed that Tiger Global Investments has increased its stake in the Chinese online classified-ad company.

So what: All told, Tiger Global increased its stake from just 300,000 shares to over 2.52 million. The new position represents 6.5% of all outstanding shares.

The timing of the news is notable, as the stock temporarily plunged two weeks ago, when 58.com first proposed a dilutive follow-on offering of as many as 8.0 million American depositary shares. The initial proposal also included a 30-day option for underwriters to purchase another 1.2 million shares. Later that week, however, the stock partially recovered its losses after 58.com reduced the offering and 30-day underwriter option to 6 million and 900,000 shares, respectively.

Now what: Thanks to its solid growth prospects in a burgeoning market, shares of 58.com have risen an impressive 80% during its first five months as a publicly traded company. Still, with the stock trading around 21 times last year's sales and 43 times next year's estimated earnings, 58.com should get a few more quarters under its belt before you make any long-term investment decisions.