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Renren Inc. Message Board

  • mawsii1 mawsii1 Jul 4, 2013 8:52 AM Flag

    Chen, chao, and insiders don't care...buy back is nothing more than a 300.00 press release...still haven't finished the last one

    last qr they only spent 4 million , previous qr..zero while 48 million was left....they did spend 59 million on some kids start up from standord called soci finance....who got this money, his cousin??? this co hasn't provided anything on it's revenue, assets, profitabilty,,,nothing..just spent shareholder money instead of buying the shares back like they were supposed to over 1.8 yrs ago when it started....CHEN is running this like it's entirely his own...he doesn't care....they took 800 million from us investors at 14.00 per share over 2 yrs ago, took the funds to chinatown, and no one knows really where all this money is.....even Paulson got shamed buying into sino forest for half a billion..down to zero.....fundimentals look good on paper, yet they can't seem to profit....even softbank is treading water and now below it's intial investment of 400 million...their 35% stake I thought would push CHEN to run things better...WALL ST prices everything as they see fit...and since chen hasn't proved worthly to US investors , wall st punishes those that takes and doesn't give back....I would only hope a take out for all longs that have suffered here...you never know, good luck to all anyway, shorts played this right for sure

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    • wall st has voted for a very long time...no trust or belief unfortunately for us investors hoping...you never know, but I have only seen management act for their own benefit....if they really would spend the 140 million so called allocation, they they would take out the entire ADS float, they already now own 85% , I maybe wrong, but it seems to me Chen will let the stock get cheaper and eventually take it private...they don't need cash or to issue more stock...he owns 25% plus now, once private then no need for sec complience....he's playing the long term poker hand with a full deck

 
RENN
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