When XIN hits $10, the market will believe it's a really undervalued stock, no fraud at all!
A few years ago, during the 2008 financial crisis, I bought a Chinese company with 50% off its cash level.
It was out of mine mind why would it be selling at 50% under its cash value and the company had no debt at all. I knew that company well and so I knew it was not a fraud at all. So that gave the a best opportunity to buy the stock at a really really low price and I ended up gained 300% on that stock.
As to XIN, the easiest way to see if it's a fraud or not is to go to China and check its projects out.
Talk to those Chinese people who lived in the buildings that XIN has built and ask them how do they like XIN's apartments.
If XIN was a fraud, would TPG invest $100M into the company this August? No!!!
TPG is reputable institution managing $55B assets currently.
Also XIN's financial reports are audited by Ernst and Young - one of the big four accounting firms in the world.
These shorts are just out of their minds trying to assume XIN is a fraud since it's trading way below its cash level and book value at $12, they don't believe this is a really undervalued stock.
Well, maybe they will believe it when XIN hits $10.
Good luck to all longs!