I wouldn't touch this POS anymore. The company doesn't even buy their own stock with $100 million set aside. They apparently believe the stock will go down further so they are holding out on buying.
Don't buy!!! Yes, I have over 17k of this POS that I am stuck with. I am telling you that I wouldn't invest one more dime because this stock seems to know no bottom and don't even try to predict it because you will be wrong unless it's at $0.00. When it reaches that point, you have hit bottom and it's time to close the doors.
actually the company has started there buy back. a press release was put out at the time. i believe the buyback was at closer to $3. on top of the company buyback, it was stated in the release that the ceo himself purchased shares with his own $$$. granted i think it was only 1% of the alotted 100mil authorized for buyback, but it is something.
the sell off isnt company based, or even sector based. there has just been an onslaught of brutality against chinese stocks in general. many chinese stocks are under attack and major scrutiny at the moment.