SINA Corporation Up Nearly 4% Despite Company Nixing Investment

SINA Corporation (NASDAQ: SINA) shares are up almost 4% today as a report came out this morning that the company reportedly said no to a $500 million investment from DST Group to be put into Weibo, which is Sina's version of Twitter.

The reported investment would have made Weibo worth $5 billion. Sina's market cap is just over $7 billion.

At last check, shares of SINA were trading at $108.06, up $3.96‎ or 3.80%‎ on the session.