Will bounce up off this tomorrow. Once investors think about it, most fraud is typically in balance sheet... assets and liabilities. This company has almost no liabilities and most assets are cash which are easy to audit, so the whole sec workpaper lawsuit will blow over and end up being nothing.
Baidu is also taking out a loan of $1.5 billion and I am very curious if they have an acquisition in mind. If so, current low valuation are an ideal time to make acquisitions. Overall good management so I trust they'll do the right thing.
It will bounce tomorrow. In the medium term, it might continue to fall although right now is a great long term entry point as it could be a bottom. It looks like this rebound is off a bull line in the technical charts.
will the flash traders, day traders, mm's, and funds dump or pump tomorrow, lol. It's amazing last week they told us to get in as fast as we can or will miss the bus. today they dump a "oh no fraud get out" article by a no name author, who probably was highly paid with little or none acctg background, who has never inspected the chinese books but quick to scam them. what is true is many small investors took huge losses today particularly if they were margined. they tell us that this market is not laden with corruption and that it is fair. that it is run with integrity and honesty. trust us as they ream us in the backend over and over again. and they wonder why the small investor has thrown in the towel and wants nothing more to do with this scam they call a stock market.