It is sad that I have come to the point of tarring all China players with the same brush, but there have been so few exceptions to contradict the presumption of guilt. With the last 24 months littered with well over 100 DOA (dead on audit) Chinese wunderkinds it is hard to vote QIHU as the exception. I am also very short this name and await the unwinding of the fable. Much like FMCN there will be the retroactive adjustments to the story to bandage the glaring inconsistencies. The profits and cash won't change..but the story will. And the dim bulbs won't wonder where the cash came from if they weren't actually doing what they claimed.
The weeds are being sprayed. The wilted frauds are brown and dying. As the bad actors in this tent get farther in between, the regulators have fewer clowns to look at. QIHU (and FMCN, VIT, HOLI...) have a very short fuse. They killed off 350 potential spawn of this sick beast yesterday and will be working their way up hill to the ugly drooling lies that still walk the american capital markets.
To many brandys.... but... QIHU is toast and the players behind it are running short of juice.
The ridiculous thing is that when the stock went down because of market condition, everybody jumps on the bandwagon blowing the horn of fraud. A stock can go down for no reason at all. Look at jbl. It was $27.00 before earning release and now it cannot even break $20.00. Is it a fraud? Appl cannot hold $600 after good er. It is down $90.00 from it's peak. Is it a fraud? I made money left right and centre off stupid guy like you. Wait until Greece got their act together and Chinese economy starts to turn. You will lose your shirts again if you do not lock in your profit now. A lot of company is under water in terms of share price. You keep on congratulating yourself now. Time will come when the tide turns. I do not have any position on qihu. I shall buy call option on May 21. Small investment for big return.
Where were you when I was looking for a smoking gun?
In the article you've linked to, the first chart in the article shows that user ship plummeted for a three month period, then it skyrocketed to new highs... Why no mention of the rebound to new highs in the article?
More than just a little biased, that's for sure! I look at that article as bullish for Qihoo!!!
QIHU's Q1 report has no room for red flags, smoking guns etc.
It's an unaudited report that will show tremendous gains in whatever metrics they'd like to show tremendous gains. There's no two ways about this.
The only reason for this to collapse is if the momo decides to deflate it (TPX, MAKO, GMCR). Who knows how that works.