Update On Sina, DST Investment

There is an update to the SINA Corporation (NASDAQ: SINA) situation.

Earlier reports had that Digital Sky Technologies wanted to invest $500 million into the company's Twitter-like service, known as Weibo.

Now, Digital Sky Technologies is saying that it never offered to invest $500 million into the company.

Shares have come off their highs as DST has renounced the earlier claims. SINA shares are higher today by 3%.