Just a few brief days ago, Weibo IPO’d “successfully” at the bottom-end of its range ($17) and exploded higher – “proving” that Candy Crush (or take your pick of recent IPO failures) were all one-offs and that ‘quality’ companies were still in demand. Fast forward 6 days and Weibo just entered a bear-market – down dramatically from its highs over $24 and is nearing its IPO price. There’s no data, no news – just selling, in size. Investors stashing cash away for another pop in Alibaba’s forthcoming IPO perhaps? Not if market conditions continue to look like this…
via Zero Hedge http://ift.tt/1tVcurK Tyler Durden