Joe Chen doesn't care that he sold B class shares at 14.00 2.6 yrs ago taking 800 mil from us shareholders..he
took , sold, stole, and hasn't done anything to benefit anyone but himself and his cronnies...Wall st is far from chinatown...absolutely the worse ceo of all internet co's listed here...CYOU gave back to us shareholders a one time div of 3.85 cents last yr because they had more than enough cash...So RENN sits with a billion, buys back so slowly on the buyback it doesn't support anymore value that where it lies...slowly he and softbank owns more....plan is to take it private for cheap, then sell out to one of the biggies...He was a billionaire when this IPO'd for a month or two...he may be smart but yet unbelievably ........well, if he played to the street and put out press releases, cut costs and show a profit...wall st would easily push it 3 to 4 fold and he would already be one of those billssssss.....good luck, renn has dissapointed mostly everyone hopiing for the miracle.
Every time the momentum traders move in, they get crushed. Maybe different this time, but I'm not holding my breath. It really does feel like something is in the works this time, but how many times have we longs thought that? Good luck Mawsii. We should know soon.