SA article, short interest vanishing - RENN heading up - just need PR!
Operates a social networking Internet platform in China. The company's platform enables its users to connect and communicate with each other, share information and play online games through its user platform. Renren has a market cap of 1.20 billion with its recent closing price of $3.20. Renren's cash per share is $2.37 and its book value stands at $2.92.
Renn's short interest has been steadily decreasing ever since the end of October 2012. On October 31, 2012, Renn had short interest of 10.6 million shares. As of January 15th 2013, Renn's short interest has been cut in half to 4.7 million shares. Renn also announced that it will continue its buyback program in which it will buyback a total of $150 million worth of American Depositary Shares ("ADS").