Last time BPOL dropped the bid, the stock tumbled to $2.1~$2.2, at that time there is only one bidder. Afterward, we get unconfirmed news says SNDA is another bidder, then 50% layoff happened. Chinarock has accumulated 10% shares at a cheap price, both KONG and LTON rose remarkably, I think it's absurd to sell HRAY below $2.
It looks HRAY is ready to sell except that they are convinced they can run the company better after layoff. Even no deal with SNDA or BPOL, there will be new acquirers given current enviroment and undervalued stock.
I believe management is finally getting the message that holders want an end.
An end could be a restructuring beginning, but QD needs to leave completely, it is ridiculous that he remains any where near the reigns. He has well proved his value destruction capability. It is a huge mistake to get rid of half the workforce and he is not included.
it is back below cash value. the fuss is all about how it ever got to be at 90 cents and yet management did nothing. This pattern is the same as it has been, they are stealing shares away. It has been there MO for 2 years. QD Wang could not compete and earn a living a honest way. Should we fear legal problems...possibly