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Renren Inc. Message Board

  • davecarneyinc davecarneyinc Dec 16, 2011 3:37 PM Flag

    Chinese Stocks Will Trade Way Up Next Week

    China market rose 2% today on speculation of credit easing. It should be announced over the weekend and China Market should take off next week, pulling all ADR's up (RENN is an ADR equal to two shares of stock)

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      So what: SINA's Weibo accounts for 66% of the entire Chinese microblogging market, estimated at 300 million registered users, so investors are naturally concerned that the new rules will slow its breakneck subscriber growth. The move is just the latest in the Chinese government's bigger plan to crack down on what it considers to be false and harmful information on the Internet, suggesting that services like SINA and Renren (NYSE: RENN ) face even more regulatory risks down the road.

      Now what: I'd look into this pullback as a possible buying opportunity. Weibo remains unprofitable, after all, and with the stock down a whopping 65% from its 52-week highs in April, it's probably safe to say that the regulations weren't a complete shock to Mr. Market. Of course, with SINA shares now down only 4% at the time of this writing, investors seem to be catching on.

3.29+0.05(+1.54%)Jul 30 4:00 PMEDT

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