RENN has been on its own move for three weeks. And actually for good reason. RENN was run too low on the famous IPO Short and now the company deserves a higher valuation. I emphasize "deserves" based on the company's position going into the next two Qs and the absence of a future sales multiple applied. The valuation is just now getting off the mat - no oversold condition exists until $3.85 - and that could be temporary.
RENN may not be a $5 stock right this second but it isn't a $3 stock either - based on their growing earnings and market(s) position.