Here’s Why Chinese Tech Stocks Crashed

Focus Media Holding Ltd. (NASDAQ:FMCN) is down over 45% after short selling firm Muddy Waters made new allegations the company is engaging in fraud. Throw in a broad-based market selloff, and Chinese tech stocks paid an especially high price.

Here’s how Chines tech stocks are trading on the news:

  • Focus Media Holding Ltd. (NASDAQ:FMCN): FMCN shares recently traded at $15.60, down $9.9, or 38.82%. Its market capitalization is $2.12 billion. They have traded in a 52-week range of $8.79 to $37.58. Volume today was 73,209,849 shares versus a 3-month average volume of 3,487,170 shares. The company’s trailing P/E is 9.96, while trailing earnings are $1.57 per share. About the company: Focus Media Holding Limited operates an out-of-home advertising network in China. The Company uses audiovisual television displays which are placed primarily in high-traffic areas of commercial office buildings such as in lobbies and near elevators, as well as in large retail chain stores and other venues. Get the most recent company news and stock data here >>
  • Youku.com Inc. (NYSE:YOKU): YOKU shares recently traded at $14.59, down $2.04, or 12.27%. Its market capitalization is $1.66 billion. They have traded in a 52-week range of $13.76 to $69.95. Volume today was 3,779,641 shares versus a 3-month average volume of 3,236,340 shares. The company’s trailing earnings are $-0.38 per share. About the company: Youku.com Inc. is an Internet television company. The Company’s Internet television platform enables consumers to search, view and share video content quickly and easily across multiple devices in the People’s Republic of China. Get the most recent company news and stock data here >>
  • Sina Corp. (NASDAQ:SINA): SINA shares recently traded at $66.12, down $8, or 10.79%. Its market capitalization is $4.36 billion. They have traded in a 52-week range of $57.97 to $147.12. Volume today was 8,274,543 shares versus a 3-month average volume of 6,188,600 shares. The company’s trailing earnings are $-6.42 per share. About the company: SINA Corporation is a global Internet media company operating Chinese-language destination sites. The Company offers a network of branded content and services targeting people of Chinese descent worldwide. SINA.com offers online news, entertainment, community, and commerce through web sites that are produced and updated by local teams in China, Hong Kong, Taiwan, and North America. Get the most recent company news and stock data here >>
  • Renren Inc. (NYSE:RENN): RENN shares recently traded at $3.90, down $0.38, or 8.88%. Its market capitalization is $1.53 billion. They have traded in a 52-week range of $3.85 to $24.00. Volume today was 4,136,530 shares versus a 3-month average volume of 3,464,110 shares. The company’s trailing earnings are $-0.85 per share. About the company: Renren, Inc. operates an Internet website. The Company operates a real-time social networking website that offers users the ability to communicate, share information and user-generated content, play online games, listen to music, shop for deals, and use other services. Get the most recent company news and stock data here >>
  • Spreadtrum Communications Inc. (NASDAQ:SPRD): SPRD shares recently traded at $24.00, down $3.21, or 11.8%. Its market capitalization is $1.13 billion. They have traded in a 52-week range of $8.59 to $29.98. Volume today was 4,003,055 shares versus a 3-month average volume of 1,289,640 shares. The company’s trailing P/E is 10.05, while trailing earnings are $2.39 per share. The company pays a dividend of $0.16 per share for a dividend yield of 0.60%. About the company: Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the wireless communications market. Get the most recent company news and stock data here >>
  • Qihoo 360 Technology Co. Ltd. (NYSE:QIHU): QIHU shares recently traded at $16.94, down $1.44, or 7.83%. Its market capitalization is $2.09 billion. They have traded in a 52-week range of $14.30 to $36.21. Volume today was 2,309,097 shares versus a 3-month average volume of 782,502 shares. The company’s trailing earnings are $-0.06 per share. About the company: Qihoo 360 Technology Co Ltd. provides Internet and mobile security products in the People’s Republic of China. The Companys products include an Internet security product for Internet security and system optimization; an anti-virus application to protect users’ computers against trojan horses, viruses, worms, adware, and other forms of malware; and a mobile smartphone security program. Get the most recent company news and stock data here >>

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