News to Watch: SINA Corporation (NASDAQ:SINA)

SINA Corporation (NASDAQ:SINA) spotted trading -5.43% off 52-week high price. On the other end, the stock has been noted 65.90% away from the low price over the last 52-weeks. The stock changed 1.67% to recent value of $43.2. The stock transacted 809146 shares during most recent day however it has an average volume of 1.17M shares. The company has 62.79M of outstanding shares and 50.99M shares were floated in the market.

On Dec. 23, 2020, SINA Corporation (NASDAQ:SINA) a leading online media company serving China and the global Chinese communities, released at an extraordinary general meeting of shareholders held , the Company’s shareholders voted in favor of (i) the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of September 28, 2020 (the Merger Agreement), by and between New Wave Holdings Limited (Parent), New Wave Mergersub Limited, a wholly owned subsidiary of Parent (Merger Sub) and the Company, pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the Merger), (ii) the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands to effect the Merger (the Plan of Merger) and (iii) the consummation of the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 62.0% of the Company’s total shares (including ordinary shares and Class A preference shares) outstanding as of 5 p.m., Cayman Islands time, on the share record date of November 20, 2020 were present and voting in person or by proxy at the meeting.  Each shareholder has one vote for each ordinary share or 10,000 votes for each Class A preference share (together with the ordinary shares, the Shares). These Shares represented approximately 82.7% of the total outstanding votes represented by the Company’s total Shares outstanding at 5 p.m., Cayman Islands time, on the share record date. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were approved by approximately 93.6% of the total votes (voting as a single class) cast at the extraordinary general meeting.

Its earnings per share (EPS) expected to touch remained -158.40% for this year while earning per share for the next 5-years is expected to reach at 2.06%. SINA has a gross margin of 74.60% and an operating margin of -4.10% while its profit margin remained -4.70% for the last 12 months.

According to the most recent quarter its current ratio was 2.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.75% from the mean of 20 days, 0.12% from mean of 50 days SMA and performed 13.04% from mean of 200 days price. Company’s performance for the week was -0.46%, -0.12% for month and YTD performance remained 8.19%.

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