Is Buying 58.COM Inc American Depositary Shares Each Repre (NYSE:WUBA), Having Lower Short Interest a Winning Strategy?

The stock of 58.COM Inc American Depositary Shares Each Repre (NYSE:WUBA) registered a decrease of 17.78% in short interest. WUBA’s total short interest was 1.89M shares in August as published by FINRA. Its down 17.78% from 2.29 million shares, reported previously. With 854,800 shares average volume, it will take short sellers 2 days to cover their WUBA’s short positions. The short interest to 58.COM Inc American Depositary Shares Each Repre’s float is 1.65%.

The stock increased 3.80% or $1.96 during the last trading session, reaching $53.5. About 799,534 shares traded. 58.com Inc. (NYSE:WUBA) has declined 15.08% since August 13, 2018 and is downtrending. It has underperformed by 15.08% the S&P500.

58.com Inc. operates online classifieds and listing platforms that enable local merchants and clients to connect, share information, and conduct business in China. The company has market cap of $7.95 billion. It primarily operates online multi-content category-classified advertising platforms under the 58 and Ganji names; and Anjuke, an online real estate listing platform. It has a 26.35 P/E ratio. The company??s platform contains local information of approximately 500 cities or towns in various content categories, including jobs, real estate, used goods, automotive, and yellow pages.

58.com Inc. (NYSE:WUBA) Ratings Coverage

Among 4 analysts covering 58.com (NYSE:WUBA), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. 58.com had 9 analyst reports since February 23, 2019 according to SRatingsIntel. The firm has “Buy” rating by Credit Suisse given on Friday, March 1. As per Friday, March 1, the company rating was maintained by CLSA. On Monday, March 4 the stock rating was maintained by Benchmark with “Buy”.

More recent 58.com Inc. (NYSE:WUBA) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For July 17, 2019 – Benzinga” on July 17, 2019. Also Seekingalpha.com published the news titled: “58.com Q4 2018 Earnings Preview – Seeking Alpha” on February 28, 2019. Finance.Yahoo.com‘s news article titled: “58.com Inc (WUBA) Q1 2019 Earnings Call Transcript – Yahoo Finance” with publication date: May 29, 2019 was also an interesting one.

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