SINA Corp. (SINA) continues to slide to new session lows, currently trading at $71.99, as ticker attempts to find an intraday bottom. The security has displayed a very wide range intraday throughout the last 3-hours along the $72 – mid/$74 area. There is some support in this vicinity ($71 level), but the stock could be on its way lower over the near-term if the shorts (8.70% float) can sustain this selling.
SINA is currently trading at a trailing P/E of 10.32, a forward multiple of 35.21 and a P/E to Growth ratio of 2.26. A break of the $72 level could mean more losses for the equity today. Day’s range: $71.91 -$ 74.62.
SINA, whose market cap prints at $4.41 billion, lost $1.76, or 2.46 percent, to $72.06 at 2:10 p.m. EST in Nasdaq composite trading.
Disclosure: No Position