Nice try, Renn is worth 30 a share at a minimum and a lead market maker with Balls could run RENN to 60 in 30-45 days, can open RENN at ten anytime they want and hardly any sellers would get out. They have had 9 months to load and consolidate between 4.30 and 5.00
Trading at 1.7 billion dollar cap with 1.3 billion in CASH is insulting. Unlike Sina doing everything wrong lately, RENN is doing everything right and yet RENN stock can't go up for 9 months. That means Sina is priced way too high and RENN way to low. It is RENN that should be 50 a share and SINA that should be 15, they can open renn at 15 if they want and no huge wave of selling would take place, RENN IPO'd at over 15! And have so much more going on in the 2 years after. I bet you would love to buy RENN at 15 but CHEN is not stupid, he would not sell the company at 15, he is taking it to 30 by OCT 1st and 1oo 2 years from today.
Renn has 5 companies in 1
#1 they have own phone already for social network, not talking about it, they have it right now! #2 30% of Renn social network users access it from cell phone, that is unbelievable! #3 They are going to be the 1st to come out with "Augmented Reality" on all 5 of their sites and in cell phone games on the Samsung Galaxy s3. They are going to make independent games just for the Samsung galaxy s3 and the HTC one #4 they have a groupon type site calle 56.com valued at nearly 2 billion #5 they have an Amazon site, I don't know the value #6 they have a youtube site, value is high #7 they have a videogame site for laptop games, computer and cellphone games (that is a very big deal when in the magazine gameinformer they did a huge survery and people would rather play cell phone games on their cell phone then on the portable nintendo or portable playstation, that is huge and just shows you RENN is doing everything right in the right places for the future.
Once they start releasing more paid apps and custom games for only the hot phones the market will take notice. Look at ZNGA marketcap 6 billion and RENN can do anything they can do except people are not getting sick of RENNs games like they are Farmville and Mafia wars from Znga, if you give us ZNGA marketcap which we should have immediately and add our 1.3 billion in cash, RENN goes straight to 17
But add another billion or 2 cap for each successful site we have and we belong at 30, when the Augmented Reality programs start showing up in advertising, cellphone games, the amazon site, the youtube site and groupon site, they will run it to 60, the market always over shoots a correct price up or down so we go to 90 or a 100 and with that kinda marketcap and cash combined with way more users to reach in china then Facebook can, Smart Chen would do some things that would have zuckerberg going, what the heck.
Lastly, look at the first 2 years of Bidu before its huge spike,then look at RENN the last 2 years, it is about to blast off just like BIDU but with the large float will go up higher and faster even eventually.
RENN today is valued at just 1/70th the value of Facebook and that is insulting, so many eyeballs on RENN though and when the pump starts from Goldman, JP morgan, MS, all the hedge funds will come in like I am not missing this huge run and then the mutual funds come in and by. We went from right where we are 4.40 to 8.00 in 2 in a half trading days last time, and we are overdue for news with a lot of shorts from the fb ipo disaster, you can catch a quick ride to ten and honestly it wouldn't be a pop for RENN, it would be getting back to not as much of an insult base price, once we cross 15 to say 17, all the ipo guys stuck reload and hard!
Get out of SINA for the pop due any moment in RENN, ride it until it stops and buy this pos sina bak then if you must, it will be 45 or 40 by then!