All That Pumping for a ONE PENNY Gain. Market Rally Fizzles for Renn
Poor renn shareholders were left at the starting gate once again. Has it occurred to you pumper people that the problem may not be the vehemence on the message board? Message board are a place to vent, but they don't move stocks. If the CEO didn't have his head up his #$%$, he could move this stock. He doesn't want to. There was a headline that read "it was your CEO that f***ed you" and it's the absolute truth. Stock prices reflect what management is doing (or in this case, not doing) for the shareholders.
During the coursework of getting an MBA they teach the students that the main objective is to increase shareholder value. It seems to me that the one thing these Chinese CEO's all have in common is skipping on that lecture.
Maybe Chen wants to take this company private for very cheap, maybe he's short, maybe both. I don't know and neither does anyone else on this board. All I do know is that Chen seems to go out of his way to undermine the share price of the stock. I've never once heard of Chen doing anything constructive for shareholders.
The one penny gain today is just a typical recurring theme. Another rally that Renn sat out. So many rallies lost. While the market is at all time highs for years, Renn is sitting at all time lows.
The same is true for many Chinese ADR's. The fact that there have been dozens and dozens of scams doesn't help.