Momo (MOMO) stock is now up more than 250% over the past 12-months and it may continue to outperform. Some of the main reasons why we like MOMO include:
- Leading early investors (Sequoia, Matrix Partners & Alibaba) although they have all reduced their stakes
- Triple digit stock performance
- Strong revenue and profit growth
- An experienced CEO
- China and emerging markets are currently outperforming U.S. and global equities
ETF PM currently has long positions in Momo (MOMO).
Why Momo Inc. Jumped Another 12% in April
From dating to social media — this Chinese company is making some huge gains.
Seth McNew, 5/8/17
After climbing nearly 30% in March, shares of Momo Inc. (NASDAQ:MOMO) grew another nearly 12% in April, according to data from S&P Global Market Intelligence. The Chinese company has been pivoting over the past year from a dating app to a true social-media platform — and it seems to be working.
Momo announced its Q1 earnings in early March, which impressed the market with a 500% jump in sales for the fourth quarter, year over year. Some of the reasons the company was able to post such strong growth include increased monetization of its digital platform, matched by a growing user base, as well as a successful strategic shift toward video streaming. For April, the market seemed to continue increasing the stock’s valuation in anticipation of a strong Q1, which will be announced on May 23. After the continual rise in April, the stock is now up nearly 220% over the past year.
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