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Why 58.com Inc (WUBA) Stock Is Spiking on Tuesday

NEW YORK (TheStreet) -- Online marketplace 58.com Inc (WUBA - Get Report) is spiking on Tuesday after Tiger Global Management, run by Chase Coleman, disclosed it has increased its stake to 6.5%, or 2.52 million shares. The firm had previously only held 300,000 shares in the company. 

By midday, shares of the Beijing-based company had increased 10.6% to $41.84. Trading volume of 1.3 million was just under its three-month daily average of 1.5 million. 

Year to date, the stock has climbed 9.6%. 

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Must Read: Why Qunar Cayman Islands Limited (QUNR) and Ctrip.com International (CTRP) Stocks Are Up Today

WUBA ChartWUBA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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SYM TRADE IT LAST %CHG
WUBA $62.37 -2.10%
AAPL $126.23 -0.29%
FB $87.08 0.20%
GOOG $522.73 0.17%
TSLA $277.36 3.10%

Markets

DOW 17,716.02 -41.89 -0.24%
S&P 500 2,074.74 -2.68 -0.13%
NASDAQ 5,003.4120 -9.7110 -0.19%

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