I can't find any news on it except for what sorry management said on cc. Is the new app being discussed in China? How much does it cost, what does it do (besides allow chatting), and is it expected to be a hit? Seems like adding new users is the only thing we have to hope for, other than a buyout. There's no way they'll make any money anytime soon, but if user numbers increase that would be a positive.
I think they'll do it b4 the app gets really popular mixed with the first ever marketing push. good time 2 get in maybe perfect!!!!!!
Well as I read the MF and Barrons new (by way of Morgan Stanley) this is certainly not good news at all for the short term as I thought we would tread at $3. And the $1B in cash seems to be always dropping as they now say $900M in cash. I was hoping the $100M drop would have been associated with the $ set aside to do the stock repurchase, and maybe it is? The no debt always remains appealing. The company was expected to have revenue of $175M this year. Ad revenue continues to drop. The transition over to mobile has been slow in comparison to competitors. Competitors are not charging their mobile customers for similar services whereas Renn is (need to further investigate if this like for like services). Ugh... Although a LOT of folks are saying that a buy-out is coming, which IMO has to come or else it stands to turn into a cash-burning company lagging in tech in comparison to its competitors. I just don't know if Chen is capable of selling his baby or if he is the doomed captain going down with the ship. There's a few life boats left; but, decision time needs to be sooner than later and let the big boys that have $/resources run this operation. Difficult position for recommending to hold.....HOLD if you can afford to hold, buy with the intention that a buy-out is coming, SELL if you think Captain Chen is going to be a cash burner with no results and let the ship sink...tough one.....
I have a few more than that but after hearing the CC I am now thinking this will take years if ever to get my money back.There was absolutely nothing positive in the call that gives any hope. I guess the fact they have so much cash on hand that one could conclude they will be around for quite some time.Lets hope they turn the ship.
Im guessing you probably lost more; but Im still in for 22k shares. Im holding long for the same reason as you. We don't lose $$ until we sell. Good luck on that miracle.....
Buy small Big gain! im sure many observer $PFNI today IMO!
Sentiment: Strong Buy
This Q has to be the worst news yet. I still will hold my shares but only because I have to. This company needs a miracle and that would start when Joseph Chen steps down.
Agree for Being advance @davim some is like to ride stock HOT but the Idea of davim is Sure! this man is a Very Big help for the Stock to Move up! Big thanks for the Good Info!
Sentiment: Strong Buy
This is Going To big For sure! Good call Davim! Advance strategy! Buy all you can!