Seeking Alpha

U.S. Web momentum plays take a breather, Chinese peers don't

  • With high-flying Twitter (downgraded by Macquarie) leading the way, several Internet momentum plays that have delivered big 2013 gains are seeing some year-end profit-taking.
  • In addition to Twitter, notable decliners include Netflix (NFLX -2.8%), Pandora (P -3.6%), Trulia (TRLA -2.7%), Zillow (Z -2.4%), and Groupon (GRPN -1.9%).
  • On the other hand, many Chinese Internet names are adding to this year's gains. In addition to Baidu (buying Perfect World's e-book unit) and Ctrip (received a bullish T.H. Capital note), gainers include Sina (SINA +4.9%), Dangdang (DANG +4.8%), YY (YY +4%), 58.com (WUBA +3%), and NetEase (NTES +3.4%). An overnight Shanghai rally is likely helping.
Comments (1)
  • What about the Netflix drop, people? Profit taking?
    28 Dec 2013, 12:19 AM Reply Like
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