Weibo (WB) Stock Pops On Rumors

Weibo WB Stock News

Weibo Corp (NASDAQ: WB) is having a strong start to the trading session this morning, trading on gains of more than 5% early on. However, if you’re looking for news, you’ll be hard pressed to find anything.

WB hasn’t issued any press releases, filed anything with the SEC, or released any other form of news. Nonetheless, there’s a reason for the gains. It seems as though a rumor is sending the stock on the run for the top.

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WB Stock Gains On Rumors

At the moment, Weibo stock is making its way for the top. With no news out, but a rumor circulating through message boards, it seems as though the rumor is the cause.

According to the rumors, WB is currently testing a new product. The new product is rumored to be an Instagram-like social network, focused on sharing images and messages between friends, family and colleagues in China.

Of course, if this is the case, we could see a new product launch relatively soon, acting as a catalyst that could send the stock up.

Keep In Mind That Rumors Are Not Facts

The stock market is no stranger to rumors. The reality is that they happen all the time. Unfortunately, most rumors that hit the market prove to be invalid.

In fact, spreading a rumor is one of the most common ways that the market is manipulated today. With that said, I have no idea if WB is working to launch an Instagram-like product, and until there is confirmation from the company, there can be no assurance that it this is happening.

Of course, if it is, it could be a great thing for the company. After all, Instagram is massively popular in the United States, and a Chinese comparison will likely prove to be highly lucrative.

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