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Renren Inc. Message Board

  • a1ohnelly a1ohnelly Jun 28, 2013 8:01 AM Flag

    BUY BACK GREAT NEWS !

    NOW SELL INTO IT, YOUR LUCKY

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    • Renren announces new $100 mln share repurchase plan (RENN) 2.84 : Renren's board of directors has authorized, but not obligated, the Company to repurchase up to US$100 mln of its own outstanding American Depositary Shares within one year from June 28, 2013. This program replaces the previous $150 mln program that was announced on September 29, 2011 and is close to be completed.

      • 1 Reply to lawstuff22
      • The company should be cash flow positive this Q with double-digit growth - and right now it trades near book value.

        The revisionist analysis will be that RENN was smart to build-out (at a loss) for an extended period. Those who do not listen to analysts acknowledged it a year ago as the proper move. The company identified the revenue stream(s) and adapted quickly as well.

        RENN is still in the game for their respective space in the Chinese market and about to make money. A buyback is almost an equal bonus for the timing. The IPO stigma could be bygone history if RENN turns into a story play.

 
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