RENN earnings will be bad , BIDU which is the best Chinese company now In China in terms of Revenue had to guide down for Q2 which crushed the stock. It's pretty obvious that when RENN reports even if they come in line with EPS and Revenue but end up guiding lower for Q2 the stock will get crushed again!
If you are long from $3 then you are okay. Keep loading more when it drops there but I would not jump in front of this earnings train wreck! If you are eager to buy then buy after earnings report on weakness!
This past week RENN was down over 10% and any -ve news on earnings is priced in ..
If RENN surprises to the +ve, then this will jump over $7 quickly
If RENN announces a partnership with FB or BIDU, then it open north of $20 overnight killing GIO's 170,000 short position
im holding. i just hope he pulls through. the only thing i didnt like about him was his 30 year plan and not caring about the price of his stock which, i feel like he has changed thoughs views. I mean come on 30 years he should have waited 25 years before he ipo the thing and technology will have changed so much by then fb and all these social sites will have done been replaced with the next fads. Thats what makes these type stocks risky, they rely on free membership user accounts which vanish with the next fad
I think because he feels guilty enough of all the money people lost on the IPO. He doesn't want the abuse he would have gotten had he let this get run up into the Facebook IPO letting people be exposed to more risk. He rather release the bad numbers now and hopes that there finally is a Halo effect from the Facebook IPO.