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Tale of the Tape

Zacks Equity Research

Renren (RENN) Shows Strength: Stock Moves 20.5% Higher
October 05, 2016

LITB RENN

Trades from $3

Renren Inc. (RENN - Free Report) was a big mover last session, as its shares rose more than 20% on the day. The move came after the company announced it will spin off social video site woxiu.com. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $1.82 to $2.06 in the past one-month time frame.

None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Renren currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the internet services-delivery space is LightInTheBox Holding Co., Ltd. (LITB - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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