They sold their stake in Nuomi 2 quarters ago, and last quarter they sold their investments.
They're acquiring nothing. It's running out.
This is a ploy to hide the $50M quarterly losses, until they can't.
What assests have they sold?They actually made money the last 2 quarters by just selling investments/assests even the numbers look bad.IF they fold,i think its because another company would buy them.Remember they still have a billion in cash and no debt BUYBACK tells me something to hold on and just wait.special dividend will rally this stock over $5.00.
Revenue decreasing 27% and 57% when you previously fell 50% last quarter is extremely bad!
If I had these numbers on my business... well I wouldn't have a business much longer.
If you can't take the warning signs you deserve to lose - it's the only way you'll learn (unfortunately).
And now when RENN stop making $80M one time asset sales you'll finally see it for what it really is.
This is bleeding $50M per quarter and Revenues declining steeply.
I remember just 2 quarters ago the Revenue was something like $40M, now it's $15M... Oh my oh my.
Trust me, there is no upside here. $3.40 today, $2.80 soon
How is it not terrible? If you look at the share price it's lucky to be in the $3.30s still after that disaster.
"Results for the quarter included $86 million gain on the sales of short-term investments."
Without that AGAIN one-time sell off RENN posted about 50 million loss, which is what I called for.
I cannot know what asset sales they will off though.
Don't be fooled by "net earnings of $31.3 million", This was a loss excluding one time sales.
Reality Check on RENN:
- losing $50m per quarter
- revenue continuing to drop
They beat analyst expectations by a whopping 18 cents per share! That is huge, and yet the share price still is weak.
This is because it's deceitful and twisting numbers to make it appear ok.
It's not OK, and analyst downgrades are proof that the smarter can see right through this.
Targets are now $3 and less.
RENN is headed towards a cash evaluation because the revenue is next to zero and the P/E is high enough near 12.
There is no reason to invest in this. It should be flat for a very long time with a trade gap of $2.80 to $3.40
Who knows. Stock always give back its gains. But if renn can hold above 200 day should move up. But the co is horrible, nothing in report is good . 56 traffic at all time high is bull , they highlited to help the sell of it. Web traffic shows about a 500 percent decrease in 56
This MB is so quiet, like an empty concert hall. I bought 7K RENN 2 days ago @ 3.21 and looks good in the meantime. First time with this company and after my DD I had the feeling that it can be a turn-around story. I am not long at the moment, but will wait and see….
:o)))) 20 minutes in the trade….volume over 50% of the daily trade volume….stock is up 2% - so more buyers than sellers - your reaction please.