ya $400 million market cap, 700 times the Option action than RENN, Market makers/ options sellers wet dream come true. That stock will whip lash you out of your money quicker than two flaps of a mosquito wing. Forget NQ.
If he buys it near 3.2 he will never make his money back. The only thing keeping RENN above 3/share if the substantial cash balance. If that is ever called into question then I would expect the stock to tank below 2/share. When was the last time RENN announced a positive business development? The only thing they have done the last two years is consistently try to redefine themselves and sell off any aspect of their business which shows promise. Games, Nuomi, etc. There is no meat left on the bone. If you want to compare RENN to a US company then Myspace might be close. Buy this stock at your own peril.
Just out of curiosity who are these big players? Are you referring to Softbank? What percentage of their holdings do you think Renn represents? Maybe 0.000001%?
Sentiment: Strong Sell
If you regretfully bought at 9 .. You should try to make your money back by buying loads of it under 3.20 ... You will make your money back .. too many big players are behind this company .. and Joe Chen has some pretty solid certifications that indicate that he is far from stupid ..
Sentiment: Strong Buy
You can always tell who just purchased shares...as these people post "break out" predictions.....you too will learn as I have...Renn is going nowhere...the only thing the CEO, Chen, is adept at is buying back shares to keep the price of the stock from falling further. He's proven he doesnt have the vision or foresight to make Renn successful.
GS/MS et al, has sold Call options for OCT strike price = 3.50
On just about a MILLION shares of RENN. For each dime RENN goes over 3.65 (strike price + premium) THEY lose $100,000 So don't expect he MASTER manipulators to allow RENN over 3.50 anytime soon.
DEQI aims to ramp up growth potential by making big hire. George Metos, former owner and founder of Sculptured Software, Inc. joins the company to help discover hot new gaming titles
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