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With threats of a trade war continuing to loom over the market you probably want to avoid going face-first into Chinese stocks right now. Eventually the selling could lead to a great opportunity, but if you are one of those contrarians, you may want to find stocks that have earnings estimates moving in a positive direction. Today’s Bear of the Day is a Chinese internet stock that’s seen its earnings estimates move to the downside. Perhaps something to avoid even if you’re looking to play a bounce.
I’m talking about 58.com . 58.com Inc. operates online classifieds and listing platforms that enable local merchants and consumers to connect, share information, and conduct business in China. It primarily operates online multi-content category-classified advertising platforms under the 58 and Ganji names; and Anjuke, an online real estate listing platform. The company's platform contains local information of approximately 500 cities or towns in various content categories, including jobs, real estate, used goods, automotive, and yellow pages. It offers membership services, such as merchant certification and listing benefits, as well as display of online storefronts; and online marketing services comprising listing services, such as real-time bidding and priority listing, as well as marketing services through collaboration with third party Internet companies.
Currently, the stock is a Zacks Rank #5 (Strong Sell). The reason for the unfavorable Zacks Rank is the string of recent earnings estimate revisions to the downside. Looking the current year numbers, the Zacks Consensus Estimate has dropped from $2.07 to $1.97. That’s enough to give it the unfavorable Zacks Rank.
There are other stocks within the Internet Software and Services industry which have better Zacks Ranks. These include Zacks Rank #1 (Strong Buy) Momo (MOMO - Free Report) as well as Zacks Rank #2 (Buy) Sabre Corp (SABR - Free Report) .
Will You Make a Fortune on the Shift to Electric Cars? Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Bear of the Day: 58.com (WUBA)
With threats of a trade war continuing to loom over the market you probably want to avoid going face-first into Chinese stocks right now. Eventually the selling could lead to a great opportunity, but if you are one of those contrarians, you may want to find stocks that have earnings estimates moving in a positive direction. Today’s Bear of the Day is a Chinese internet stock that’s seen its earnings estimates move to the downside. Perhaps something to avoid even if you’re looking to play a bounce.
I’m talking about 58.com . 58.com Inc. operates online classifieds and listing platforms that enable local merchants and consumers to connect, share information, and conduct business in China. It primarily operates online multi-content category-classified advertising platforms under the 58 and Ganji names; and Anjuke, an online real estate listing platform. The company's platform contains local information of approximately 500 cities or towns in various content categories, including jobs, real estate, used goods, automotive, and yellow pages. It offers membership services, such as merchant certification and listing benefits, as well as display of online storefronts; and online marketing services comprising listing services, such as real-time bidding and priority listing, as well as marketing services through collaboration with third party Internet companies.
Currently, the stock is a Zacks Rank #5 (Strong Sell). The reason for the unfavorable Zacks Rank is the string of recent earnings estimate revisions to the downside. Looking the current year numbers, the Zacks Consensus Estimate has dropped from $2.07 to $1.97. That’s enough to give it the unfavorable Zacks Rank.
There are other stocks within the Internet Software and Services industry which have better Zacks Ranks. These include Zacks Rank #1 (Strong Buy) Momo (MOMO - Free Report) as well as Zacks Rank #2 (Buy) Sabre Corp (SABR - Free Report) .
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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