Thanks for the reply. Last quarter they fudged around with the books and did come up with 1 cent plus or minus earning per share and the stock went up, but that was mostly smoke and mirrors. I am also expecting the PPS to drop, but if the $135 million is in play it would not. To me this stock is totally manipulated because the cash on hand pretty much levels this stock at around the $3.40 plus or minus a dime. This quarter it did not have a run beyond $3.50 so someone was keeping it down.
have you ever heard a positive report from RENN i have not. so if past performance of management is anywhere per normal they will cut estimate games will not be done, still only doing college stuff...think trying to push it down take it private imo why soft bank don't slap some sense into managment is beyond me...
Renren is wavering between $3.25 and $3.30 which is in my estimation the value of the current cash basis of the company depending on the various estimates of stock outstanding. With other assets, I am estimating the company is at least worth $3.50- $3.60. I saw someone mention on this message board that the $135 million from Biaudu is going to be included in this quarter which if true would increase the cash value to the point that $3.70 would be a reasonable estimate. The stock has not really had a run this quarter, so I am wondering if the powers that be are collecting short shares and plan to drive this down to $3 or be low after the report, or that the people in the know are collecting as many shares as they can and with any kind of positive news about money made this quarter or future deals, they plan to push it up toward $4.
I would appreciate you explain your reasoning on why you think the PPS will go up or down, if you choose to respond to this message.
Get real! 56 is losing money too! All Chinese video sites are burning money to attract traffic. Joe loves cash, and he is not willing to burn the cash for rankings. But no way 56 is making money now. In fact , no video sites can make money in China now.
Joe bought 56 for 80m, I would think it is a great deal if he can sell it for 250m. I think 200m is also acceptable.
Sell it piece by piece. Steal all the money thur fake buyback. Any idot can see this. You guys that been holding this scam is screwed. There be no renn soon. Traffic on renn site is gone. Co is worthless. Who know if they even have cash left. You all have been had.
I did find the rumor, but both parties denied. I guess that is why there was some big volume change.
Anyway, I think the potential buyer will be either baidu or alibaba.