Chinese social media giant Sina Weibo overtook its U.S. counterpart Twitter in market capitalization for the first time ever during trading on Monday.
Nasdaq-listed Sina Weibo saw its market value rise to about 11.32 billion U.S. dollars at one point during trading on Monday, while that for Twitter, which is listed on the New York Stock Exchange, stood at about 11.22 billion U.S. dollars at the same time. It is the first time the Chinese microblog service has outperformed its U.S. counterpart in market cap,China.org.cn
China's Weibo overtakes Twitter in market cap
Xinhua
2 comments:
A dubious accomplishment.
One thing it illustrates is the tremendous and growing potential of the consumer market in China and the danger of getting US companies shut out out of it by the government doing stupid stuff that pisses off China to the degree they retaliate economically. This has been a classic way that the US retaliates, and the US elite can expect the same in return.
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