Investors in SINA Corp have been on a roller coaster ride for quite some time. For the last 8 months, that’s been including me.
Take a look.

SINA is a Chinese internet holding company and creator behind the massive micro-blogging social platform, Weibo (pronounced “way-bwo” – yes, that last syllable is a hard one). Weibo is commonly known for being the Chinese equivalent of Twitter, but really is more a combination of Twitter and Facebook.
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8 Responses
Excellent
I Adore Sina, I own them since 2008
Sina will probably be the best Stock of the Future
Glad you enjoyed it, Felipe.
Nice write up Oliver. Out of curiosity, on your valuation how are you coming up with your reinvestment figures? How does your NPV look if SINA fails to grow?
Thank you very much. The reinvestment figures are based on the sales to capital ratio assumed to remain at 1.
If SINA fails to grow from this level, I find it appropriate to apply a multiple of 6 or 7 which makes about $2.2 to $2.6 billion of which the current market value reflects the lower bound. That is, of course, assuming that the business will bounce back to a normalized [no-growth] level from what will obviously be a tough year of 2020. But I find SINA Corp to be extremely cheap at these prices.
now only the value of weibo is 3,6 b vs 2,2 b of sina market cap i hope mgmt make a bunch of buyback of stocks
I am rather confident that they do some buying at current levels with the newly announced $500 million buyback program for 2020.
03 april 2020
Today I bought +150% more Sina @ 32 $, it’s the biggest position I ever had.
Sounds good. It’s the long view that counts.