Tech Sector Bearish Stocks: Trina Solar (NYSE:TSL), NII Holdings (NASDAQ:NIHD), 58.com (NYSE:WUBA), GigaMedia Limited (NASDAQ:GIGM)

Technology Stocks News 2

ReneSola has struggled for years, with its heavy debt load and weak margins putting it at a competitive disadvantage to stronger companies like Trina Solar Limited (ADR) (NYSE:TSL) and JinkoSolar. Yet more recently, greater demand for solar modules has put a floor under prices, and a shakeout among the large number of Chinese solar companies has started to separate the winners from the losers. Trina Solar Limited (ADR) (NYSE:TSL) stock performance was -8.85% in last session and finished the day at $14.22. Traded volume was 8.08million shares in the last session and the average volume of the stock remained 5.14million shares. The beta of the stock remained 3.17.

NII Holdings Inc (NASDAQ:NIHD) was downgraded by investment analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday,TheFlyOnTheWall.com reports. NII Holdings Inc (NASDAQ:NIHD) dropped -11.54 percent to $1.15 Monday on volume of 5.35million shares. The intra-day range of the stock was $1.13 to $1.20. NII Holdings Inc (NASDAQ:NIHD) has a market capitalization of $198.30million.

Analysts believes that the IPOs of online marketplace 58.com Inc (ADR) (NYSE:WUBA) and travel-booking site Qunar in the second half of 2013 opened the door for another round of US stock offerings by Chinese Internet companies. 58.com Inc (ADR) (NYSE:WUBA)’s stock on Mar 24, 2014 reported a decrease of -7.07% to the closing price of $43.00. Its fifty two weeks range is $21.00 -$58.89. The total market capitalization recorded $3.34billion. The overall volume in the last trading session was 1.37million shares. In its share capital, WUBA has 22.12million outstanding shares.

GigaMedia Limited (NASDAQ:GIGM) released the prelim results for its 4Q operations on 21st March. The good tidings that the announcement conveyed sent the stock coasting upwards to post a 9.5 percent increase over its previous day close. On Monday, shares of GigaMedia Limited (NASDAQ:GIGM) dropped -10.47% to close the day at $1.54. Company return on investment (ROI) is -17.80% and its monthly performance is recorded as 16.67%. GigaMedia Limited (NASDAQ:GIGM) quarterly revenue growth is 55.56%.

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone