Supply and demand 101 . Later PEGBOY's . Take that .
Sentiment: Strong Buy
Spreading no rumors, i only play renn short. Its a pos. Which horrible mangement. I basically only trade renn, fnma, fmcc, dang, tvix, fb Life is good. Good old renn produces money yr over yr shorting and reshorting. Fb has been a great stock since it bottomed in th 17.50. Fnma and fmcc have made me the most, 1 up has produce 1000 percent return in a couple yr. and im in it again heavy at 1.55. And its 50 is moving over the 200 back to 6. So if you are long renn, then you are the one that needs to be asked what are you doing here.
CEO, and whole company is just plain stupid. That tender offer was completely stupid. . I hade to laugh at the results. Never ever seen a offer with a 30 cent spread. Just another failed venture, showing bad management . Always short a pop on this junk .
No the 5 cents go to adr holder for retiring the stock. Nothing to do with transaction cost. There is a #$%$ load of cost doing a tender. Renn ceo is a idiot. But know this protect the co when they drive this turd to nothing and take it private. And yes thats the plan, ive stated this for more than 3 years.
Isn't the .05 per share the brokerage fee? There may be a minimum agreement but that would mean they would be forced into extending the auction or loose the difference. Is that what you see?
Really, on this quarter report will be the cost of tender, broker house dont fo this for free, it will be 2 to 3 million hit, and 11 million expected on income. These idiot are so stupid