Should You Buy Renren Inc (RENN) Stock on Friday?
Overall market sentiment has been high on Renren Inc (RENN) stock lately. RENN receives a Bullish rating from InvestorsObserver’s Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver‘s Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What’s Happening With RENN Stock Today?
Renren Inc (RENN) stock is trading at $9.76 as of 2:48 PM on Friday, Apr 23, a gain of $1.37, or 16.33% from the previous closing price of $8.39. The stock has traded between $8.43 and $9.85 so far today. Volume today is more active than usual. So far 138,545 shares have traded compared to average volume of 103,324 shares.
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More About Renren Inc
Renren Inc operates as a used automobile business. It sells used automobiles and related products; arranges financing options for customers through financial services partners; and provides credit financing to used automobile dealerships. It has two reportable segments, namely Renren and Auto Group. The Auto Group segment mostly includes the sales of automobiles as well as used car financing and generates majority revenue from the same.
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