NEW YORK (TheStreet) --Shares of Youku Tudou (YOKU) are down by 9.86% to $24.69 in late afternoon trading on Friday, as some China-based stocks decline today as China's stock market tumbles.
Youku Tudou is a China-based Internet TV company.
Shares prices in China saw one of the sharpest sell offs in years, The New York Times reports.
For months analysts have issued warnings about a stock market bubble in China, where what The Times describes as "giddy" investors drove up stock prices by acquiring shares on margin, or with funds borrowed from brokers.
The latest drop in the Chinese market comes as authorities move to stiffen the rules on buying stock with borrowed money, The Times noted.
Other China-based stocks falling today include SINA Corp. (SINA), down by 4.32% to $54.04, Baidu Inc. (BIDU), lower by 1.93% to $203.54, and Sohu.com Inc. (SOHU), slipping by 6.82% to $60.03 this afternoon.
Separately, TheStreet Ratings team rates YOUKU TUDOU INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate YOUKU TUDOU INC (YOKU) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."