When Chen downplayed RENN so much about no profits for couple of years, it made me think he was trying to lower stock price for personal reason.
IT just didn't make sense for him to trash talk his company unless financial motive for cronies was involved.
Actually it made me buy more on dips because never seen a CEO downplay their own company so much. I suspected at that time the stock would go up or double by this summer. Therefore I doubled up on my shares and have made some great profits, that is for now several thousand ahead of the curve. Look for some kind of announcement soon and RENN to go double digits....
You are totally wrong - he does not downplay the earnings in the coming years. What you missed or failed to consider is that his company is a relatively new player in the SNS industry. So it is naturla for a CEO to be cautious about forward earnings. What contradicts your claims are the details in the RENN financial report. You simply missed or failed to understand how he was talking to the street vs. how he would present at a RENN conference. I simply want to get the word to those who are not qualified to understand matters such as this and make such outrageously false statements. I hope this helps.
Yeah, I'd like to see something positive from the guy for a change. We have enough bashers that we don't need it from our CEO. I guess I'll never understand why a CEO would volunteer that his company will not make a profit for a year. He even said it twice, just in case someone missed it the first time.
It is a Jobs/AAPL trick and a nice play. Lower expectation so that you get a nice beat each quarter...IMO...Chen is a GOD...Not that kind of god a stock GOD...In case you have not noticed all companies are doing it now...This guy just bought back a ton of RENN shares for 1/3 of their value...Not by design but because of what the market gave him...What a gift...Fork in the road babe!...IMHO