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  • idbtc idbtc Jun 14, 2011 3:16 AM Flag

    Valuation calculation after Tencent & EXPE investment

    RENN is a bubble valuation still. From IPO, I thought its ridiculous pricing would only create a bearish top for Chinese net sector as a whole so committed little to Chinese net sector. I kind of thought RENN has to drop to 5 or 6 before the net sector stabilizes but the speed and magnitude of drops have been quite quick especially on SINA. Still, I'm long term bullish and would like to go long after this massive selling subsides - if I can time it right.

    Chinese online statistics might not even be reliable. Of all Chinese net plays, Tencent probably most reliable for long term stock appreciation. SINA big drop might be good oppty to step in, their SNS platform sounds so good but not sure exactly how the market is valuing it going forward.

 
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