Nope - it is still undervalued. You are better off shorting APPL. Besides - why does anyone what to short a stock like this that is already deeply discounted? It is amazing how some people think. Oh well - it is your money or lack of.
Don't short RENN now.. wait untill Facebook IPO to see how market react to facebook..then short RENN. if Facebook up.. jump to buy RENN, if facebook down jump to short RENN terribly because China will land harder after they open up lending too much money in real estate. THe trend overbought but the momentum is still too high.. don't short you will die.. wait till May 15 that is the time facebook IPO.
On Friday when I checked around 10:15 am no shares were available to short. Good luck trying to short. Trend is your friend, so don't go against the wave unless you know something we all don't know. And even if you know it you might be too early, and you will be in pain.