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Renren Inc. Message Board

  • mawsii1 mawsii1 May 27, 2013 8:49 AM Flag

    Chen , Choa, and Softbank do not care about US investors..or the share price...they are slowly bleeding it down

    and will take it private eventually...Wall st hates the co and stock because of management..taken it public at 14.00 and not doing what's best for shareholders, only Joe Chen...and his cohorts.....especially after seeing 59 million spent on soc finance...some kids so called co started at stanford where Joe went to school...no revenues or profits or assets..nothing disclosed to shareholders for 8 months now..and to show how poorly they are, in the last 6 months they spent 4 million on stock buybacks...they now control 85% of the co...the ADS float is cut in half now owned by the co...mostly retail investors own the balance, money managers and fund managers have dumped permanently due to the actions of management.....When the stock collapsed from the IP0 price down to 6 to 7. range is when the put the 150 million aside for the buyback and stock support...it's now going on two yrs this sept and they only spent 110 million while the stock trades below 3 bucks...if that doesn't tell it all I don't know what does...they have the cash in china..who really knows or trusts where it's at? they will allow the stock to go lower, maybe slowly buy the remaining shares and delist when feasible...they don't need to raise capital again and can't anyway in the US markets....maybe they will relist in Hong Kong or keept if private to sell out eventually...I may be wrong , it's unfortunate..I hope for all longs this isn't the case but I don't see anything out of this co that would change the direction....good luck all, it's a tough short here and tough long here...better opp's elsewhere..like spwr and scty

 
RENN
2.57-0.02(-0.77%)Feb 27 4:05 PMEST

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