SEEKING ALPHA – Apr 14 – Momo's IPO did quite well by rising 26% on its first trading day last December. But since then the stock has sagged and mostly traded ~30% below its IPO price of $13.50. The stock fell ~4% in the latest trading session. The shares could take a hit as Beijing pressures it to clean up its reputation as a "one night stand" app. The Ministry of Culture has warned the company to clean up its act. Failure to take action could result in fines for Momo, or could even result in limitations or a suspension of some services.
by Doug Young
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