Friggen thieves. The government should have let these mf'ers fail.
... to what end?...
I suppose the answer is "they" ran it up, pre-FB, and have covered today. Considering almost every SN stock got pummeled, Renren the most, Sina the least, "they" obviously orchestrated this Grand Opera rather well...
After researching naked shorting and how hard it is to push up stocks with lots of Failure to really delivers and phantom shares, I see this stock doing nothing but sadly letting the true longs down.
The force it would take to get this stock going just is more then people are willing to gamble on RENN or DUNG
I'm holding not buying and feel I'm stuck with my 1500 shares.
you're not stuck with them... there is liquidity to sell them... but the destructive forces behind naked shorting do appear to be having their desired effect on this stock... that accum/dist line I've been pointing out shows someone is dumping huge amounts of shares regardless of what people say is happening... if this stock was being accumulated, the line would be moving up steadily... a good stock to look at how it works is BAC... up until about 5 months ago, that stock was being sold enough in a large manner, but if you look at the accum/dist line now, it is rising in tandem with the rise of share price... that's what RENN should be doing but the line is going the opposite of the RENN share price that has actually risen since quite nicely since the beginning of this year..
They can always borrow from the Federal Reserve Window @ discount interest rates. Another possibility is to have their pals like Jamie Dimon on the N.Y. Fed, reduce the Banks reserve requirements. Money for nothing, and then lend it to the muppets. More than one way to skin a muppet.
Look at my name redzone and how long it has been around.
I have known about the naked shorting scam and I do not dream, it is obvious when you have 20 million shares volume but stock can only move 20 cents during the FB ultimate hype scenario that would have pumped RENN in my opinion if it was not flooded to the max with Failure to delivers, virtual shares, and phantom shares. You would have a more fair level playing field if RENN traded like bitcoins do. Don't worry they are flooding DUNG with them also, that will be 3.50 to 3.70 in 3 weeks to a month and RENN will be back in the sweet spot of 4.20-4.40 where the crooked mm's like it at, more fun, serious volume everyday.
Redzone storm in Goldmans office and arrest them.
That is why when Redzone posts that RENN is about to short squeeze because it is 80% of float short or 100% (depending on how much crack the pumper smoked) I just laugh because Renn is such a pos naked shorted to death stock.
You saw the volume the other day almost 20 million shares for a twenty cent move when this is the most hyped Renn has been since it started trading. When it first started trading it was more volatile and had realistic moves instead of a little manipulation here and there to sell bagholder tickets. Go look at the first year charts on SINA RENN DANG BIDU YHOO GOOG and look how they move now. Only goog and bidu and aapl still trade fair because they get too much press and that makes the crooks afraid to naked short them to Fail to deliver on purpose from the start. Not the case with RENN because they have no intention of ever letting it run and they got the China exuse to fall back on about why it never really got off the ground before shorted out of existence or till it simply does not matter it is listed because the buying force it would take move this pos just proves the time to buy wall street scams is only in the 1st 3 to 6 months of trading then they are done and far too risky for the honest retail long or short trader.
Mark this post, the next 2 weeks will be awful for you pumper longs.