Weibo (9898.HK, Nasdaq: WB) was fined by the Chinese regulatory authorities. 9898’s stock price fell -9.6%. Since the Hong Kong listing has only been a few days, we can look at the WB performance of Nasdaq’s listing.
WB has now fallen to US$29.88, hitting the pandemic low in March last year (yellow circle), and the weekly RSI has also fallen to purple oversold level support. Although it can technically stabilize at this level, there is a risk of a sharp fall if it loses this support. At this moment, WB continues to fall -4.6% during the US Pre Market period. It is time to wait and see at the sideline.
360miq.com/stockinfo?code=9898.HK
