Notable Runner: Could 500.com Ltd Change Direction After Making 1 Year Low?

Notable Runner: Could 500.com Ltd Change Direction After Making 1 Year Low?

The stock of 500.com Ltd (NYSE:WBAI) hit a new 52-week low and has $11.06 target or 8.00% below today’s $12.02 share price. The 9 months bearish chart indicates high risk for the $510.91M company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $11.06 price target is reached, the company will be worth $40.87 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.23 million shares traded hands or 1489.90% up from the average. 500.com Ltd (NYSE:WBAI) has risen 5.85% since April 5, 2016 and is uptrending. It has outperformed by 3.89% the S&P500.

Analysts await 500.com Ltd (NYSE:WBAI) to report earnings on November, 10.

According to Zacks Investment Research, “500.com Limited provides online sports lottery services in China. The company offers a suite of online lottery services, information, user tools, and virtual community venues to its users. It provides its services through its mobile applications to mobile users, as well as through its online platform. 500. com Limited is based in Shenzhen, the People’s Republic of China.”

More notable recent 500.com Ltd (NYSE:WBAI) news were published by: Prnewswire.com which released: “500.com Limited Files Annual Report on Form 20-F for Fiscal Year 2014” on April 27, 2015, also Fool.com with their article: “Why 500.com Ltd. Stock Plunged (Again) Today” published on February 25, 2015, Streetinsider.com published: “500.com Ltd. (WBAI) Misses Q1 EPS Views; CEO Man San Law Resigns” on May 19, 2015. More interesting news about 500.com Ltd (NYSE:WBAI) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on November 21, 2013 as well as Valuewalk.com‘s news article titled: “Carson Block Short 500.com Ltd (WBAI) Skyrockets On Bad News” with publication date: May 19, 2015.

WBAI Company Profile

500.com Limited, incorporated on April 20, 2007, is an online sports lottery service well-known provider in China. The Firm acts as an aggregator and processor of lottery purchase orders from its registered user accounts and derive substantially all of its revenues from service fees paid to it by provincial sports lottery administration centers for the purchase orders of sports lottery products that it direct to such centers. The Firm offers an integrated suite of online lottery services, information, user tools and virtual community venues to its users. The Firm provides its registered users with a range of lottery sales services that include Individual Lottery Purchase, Lottery Pool Purchase, Automatic Tag-along Purchase, Recurring Purchase and Locked-in Lottery Number Purchase.

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