See Nasdaq: http://www.nasdaq.com/symbol/renn/real-time
RENN closed up 3.64% so pre-market trading meant nothing. Forget about the noise surrounding RENN and look at the chart - short, medium and long-term technicals are all extremely BULLISH. Stock is currently trading at 14 month highs and above $4.20 will be a high that dates back to Sept. 2012....just my opinion as a technical geek but we're headed above $4.20. Above $4.20 the next level to watch is $5.00 and a close of $5.00 will be a double top technical breakout on the P&F chart which could take RENN to double digits. RENN is a strong buy, particularly on dips like we witnessed in the early going on Friday.
The stock traded well after the China plunge. Close to $4 and so I reiterate. If it holds close to $4 at the close then I believe in the short term it will still go higher. I would put a sell at $4.50 and a stop at 3.70.
Not this time. SOFI IPO this year will mean 1000% gain for RENNs investment.
I am actually impressed by the way this stock is trading today. Volume is about normal based on the last week or so its traded and the stock has not reacted negatively to the overall market. If it was going to take a death march downward now would be the perfect time. If it holds close to $4 at the close then I believe in the short term it will still go higher. However In a month from now it's anybody's guess. If your not long, I would put a sell at $4.50 and a stop at 3.70. Always protect yourself.
I have no stock interest in Renn at this time but the pre-market stock price is more a reflection of the overall China stock plunge than Renn itself. That doesn't mean Renn won't drop further on its own merits but its not a reflection of the stock. China plunge was 6.5% and Renn's pre-market trading is down 4.22% at the time of this post. It was 7% or more earlier.
No. It is up because Wall Street finally learned about RENN's investment portfolio and now realizes this is just like investing in YHOO cause they own a large BABA stake or investing in one of the Liberty Media entities over the years. Joe Chen just hosted an investment summit in which the CEO's of many of RENN's investments attended in addition to a host of other Chinese internet CEO's. RENN got huge publicity from this and now all the arbs want in on the action. Wait until FB announces that they have taken a 10% stake in RENN just like PCLN did a while back with CTRP. This thing is gonna rock!
That weirdo wishes he was an amateur trader. He's a boiler-room troll. Pennies per post. And a terrible one at that. He has no money to invest.
Looks like some candles got put out today. It goes to show that you should not listen to amateur traders. This stock has legs -volume and demand. Great investments and working on a strong product maybe with a partner. Stay the course as stock buyback makes a company stronger. It is a marathon not a sprint