I have a feeling we are turning this thing around, Chen said we are a finance company and if Sofi every IPO's we should be OK! What is everyone's thoughts? No one ever posts on this board!
Actually RENN has never really been a dedicated SNS. Chen has a nack for investing in great companies, incubating them and then making a BIG buck. I personally think that he is the Chinese Warren Buffet of tech. Everyone seems to emphasize the RENN's SNS earnings, If you take the hundreds of millions from the sale to BIDU, the ticket company chen sold (at the beginning), and a few other deals - the actual earning are phenomenal. Just look at the SOFI deal!! there is potential for RENN to sell for $25 a share. (if SOFI, IPOs at $30 billion) i.e. 1/4 of SOFI is $7.5 Billion to RENN's valuation. And it looks like it might...
There always has to be some short for the inverse EFT's and the like..But just a million short from the highs of 10 Million++ short, a while back.
Hope Chen decides to push the stock up rather than turning into a HOG. There is so much more he could do with stock that's $25 to $30 per share than owning the whole company. Id like to see him use shares of RENN to buy out BIDU. Just a thought.
Quite possibly the stupidest "thought" I have seen in some time. And maybe at the same time YELP can but out GOOG?
I think it make sense for FB to buy RENN, although not many are active users using RENN service anymore, the platform is still there and almost I know everyone had an account, this can be revived with some ads campaign and service expansion, it is the cheapest and easiest way for FB to acquire a massive user base and enter into the Chinese market.
Renn declares BK, delisted because they never file a 10 k. They steel all the holding live happy ever after in China. Chen to spend rest of life on idiot American that bought his fake company stock