Weibo added to U.S. delisting watchlist

Weibo added to U.S. delisting watchlist

Chinese microblogging platform Weibo has been added to the U.S. Securities and Exchange Commission’s delisting watchlist on Wednesday, making it the sixth Chinese company added to the list and now at risk of a potential forced delisting, Reuters reported on Thursday. Weibo’s stock fell 10.1% on the news but had recovered to a 0.6% decline by close of trading. One of the biggest social media platforms in China, Weibo – which is often compared to Twitter and has a secondary listing in Hong Kong – earned $2.3 billion in net revenue in 2021, with 573 million monthly active users as of December last year, according to its 2021 financial report. [Reuters, in Chinese]


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Author: admin