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Renren Inc. Message Board

  • hugh_looser hugh_looser Jan 23, 2013 10:12 AM Flag

    RENN Move

    A move above $3.86 would be a bullish technical accomplishment. $3.50 showed itself as resistence in Nov and Dec. This move might mean $3.50 is now support. That doesn't mean RENN is off to the super races. RENN is simply not fairly valued at this low price.

    Remember this consistent message from WS concerning RENN: There will be no premium for the fact they have cash. RENN has been relegated to a nonexistent P/E because they do not make money(negative earnings). RENN has remained essentially flat while FB recovered a 25% gain so there is no tether for sector relation.

    RENN is doing no harm with this little burst. The PPS continues to stay in a tight range. It would take a break above $3.86 to even raise an eyebrow. It seems real RENN excitement continues to be well down the road and specifically on an earnings date.

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1.79-0.04(-2.19%)Jun 30 4:02 PMEDT