BGU - YY 8/2/13
YY is having a buyable gap up on a strong earnings report. Earnings and sales continue to rocket in the triple digit territory, quarter over quarter. Institutional sponsorship has grown over the 3 quarters since the company went public. Industry group rank 14. Chinese companies carry greater risk as questions have been raised as to their accounting standards, and many often falter despite impressive looking fundamentals. Nevertheless, YY has gapped up after doubling price. Since this is an IPO with a compelling story, as it has first mover advantage in the social networking space in China, it is actionable. It carries additional risks, however, as it is a Chinese stock which is also an IPO so position size accordingly.
We have reported on YY in prior reports including the recent report on 7/25/13.
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