$26 a share is reasonable if the p/e of HOGS numbers are real. That would be a p/e of 10 to 12 on a forward p/e basis. At a p/e of 12 for 2012 earnings, the stock would trade in the high 20's if the company was in America. The problem is no one trusts Chinese numbers now. Chinese stocks (and Shanghai is now in an official bear market) are seen as scams...often by Chinese themselves. Of course not all Chinese companies are frauds but so many have been caught cheating that their numbers are not trusted. The Chinese have done this to themselves. They don't have enough experience with capitalism. When capital is not spent on Chinese stocks, that's bad for China. So by not policing their companies, they starve their own companies of Western capital and even Chinese capital.
pinatubo, given the number of short attacks inflicted on these chinese companies not much has been conclusively proven. It's certainly true a lot of damage has been done to share prices and that's all shorts really care about. Proving anything is beside the point for shorts.
It's the US which should be policing these stocks doing business in China but listed and traded exclusively in the US. If the US continues to neglect its duty to see these companies are treated fairly in the marketplace by ignoring abusive short tactics then those companies will move to some place where they are protected. The US is not the only place to raise capital and considering the abuse it allows by shorts not the best place either for small companies.
"that's because they represent insider investors " and Roth doesn't? Hmmmmmmm.....much was made of Roth but you flippantly discard Piper? Can't have it both ways.....Is there an analyst out there who doesn'tsee 20 a share......if so, is it because he "represents short insider interests"? Piper is legit, at least.