Agree. I don't think we will see better than the $4.20, but that is a good return from here (and even moreso from where I am going to buy more today). Hard to get that kind of return in this market right now.
This is right on. Buybacks are garbage. Allows the company to manipulate results and proves that they do not have other good options for investing cash. Open market purchases show confidence.
I agree. I cannot see how this is a bad development at this price. Certainly points to the deal going through at the very least. That is a 15% return. Back in.
That would prevent Chen from getting SOFI for pennies. I am trying to figure out whether this means that SB is just giving up on Renn and buying SOFI another way or whether it is trying to use the threat of diluting RENN's (soon to be Chen's) interest in SOFI to kill the sale or increase the bid.
Wow that is very interesting. I would love to be a fly on the wall in the conversations between SB and RENN right now.
The action in Renn is sucking wind. I sold at $3.60 yesterday. Will look for another entry lower. The market clearly does not believe in the $4.20 offer. Might have something to do with the BS offer in DANG yesterday.
You are a hero. The only thing this China issue has done is make it more likely the $4.20 bid will get approved. The offer was and continues to be a disservice to shareholders. Renn worth much more than that.
IPO the shares at $14 (or so), run the core business in the ground, then get lucky with a couple of non-core investments and take the loyal shareholders out for $10 less per share just as things are looking up.
He should be in shipping.