Renren Inc (RENN) stock is higher by 11.73% over the past week and gets a Bullish rating from InvestorsObserver”s Sentiment Indicator.
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
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 $10.00 as of 11:11 AM on Monday, Feb 22, a drop of -$0.75, or -6.98% from the previous closing price of $10.75. The stock has traded between $9.90 and $10.62 so far today. Volume today is more active than usual. So far 277,554 shares have traded compared to average volume of 194,835 shares.
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.