I bought XIN around $2.98 in the earning day a few weeks ago. After reading the posts here, I bought more after it dropped to $2.82. Now, I see XIN's investors disregard its earning numbers. I don't believe the explanations related to Blue Ridge. Look, every stock has institution selling. The fact is nobody here is even willing to pay more than $3.0 for this stock. Meanwhile, a few longs here even claim they feel this stock worth $30+. See, it doesn't make sense here now.
Poeple thinking is a mistake buying XIN are right. They should just sell and move on so that we can free some space and time on this MB. Unfortunately I cannot offer to buy your shares directly otherwise I would buy them saving on commissions
I hear what you are saying. I think most here are either invested to where they want to be (like myself) or traders. Given the level of float out there, this stock can be very erratic and fluctuate drastically in days...heck, even minutes, based on some heavy institutional buying (or selling).
I would stick to your guns. Remember, this is a micro-cap stock, and although the volume is decent, it is not like we have 1,000's of investors trading this daily like some of the big boys. Many of the investors on here are going to hold what they have for the long term, patiently waiting for the huge rise in price.
The part turns me off is I didn't do enough due diligence when I bought this stock. Now, I find there are plenty of concerns with the CFO's integrity issue.
The other part is while some institutions are selling the stock no enough buying to cover it. Why? Typically, many sophisticated institutions can afford invest something like a million bucks in this stock, but I didn't see many do so. If it is American company, they would think it price level is a steal. Or may this price level will never happen if it is a US company.