Sina (SINA) Peers Mixed as Muddy Waters Denies Rumor (BIDU) (YOKU) (SOHU) (RENN) (DANG)

Although still sharply lower (especially considering indices are currently up about 3 percent), shares of Sina Corp. (Nasdaq: SINA) are now well off session lows in afternoon trade Monday.

After gapping higher at the open, shares of Sina plunged about 16 percent over the first hour of trade amid a WSJ rumor the company was the next target for noted short-selling firm Muddy Waters. Following a response from Muddy Waters which said the rumor was false, the stock bounced and in fact turned positive.

Shares of Sina are now down about 5.3 percent to $59.76.

Amid the volatility in Sina shares, peers are mixed on the session:

• Baidu (Nasdaq: BIDU) is leading the pack, up 5.6 percent;
  
  
• Youku.com (NYSE: YOKU) is 5.5 percent higher;
  
  
• Sohu.com (Nasdaq: SOHU) is off about 0.6 percent;
  
  
• Renren (NYSE: RENN) is 1.9 percent lower; and
  
  
• E-Commerce Dangdang (NYSE: DANG) is down 1.5 percent.

Muddy Waters last report on Focus Media Holding Ltd. (Nasdaq: FMCN) has pushed the stock down more than 25 percent since the initial report on Monday of last week.

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