(Sogou's Universal Chinese Translator.)
Sometimes the market reacts to extremes. This statement especially applies to today's market as momentum has taken over on both the bullish and bearish side and completely ignores traditional valuation metrics. Unfortunately for Sogou (SOGO) investors, there's been nothing but bearish momentum in the past year. While the initial drops from highs last year were justified due to slowing business momentum, the recent selloff appear to be more emotional than rational in nature. After Sogou's second quarter 2019 earnings, its stock tanked almost 15% and came within