Our entire free market is 100% corrupt. The money pays the media to front run a story to make it appear what was just printed is fact, or to validate the price action. This corruption does present investment opportunity.
Interestingly the short side of RENN had no problem with the RUMOR. 100% corruption. And the hit piece by the street was timed perfectly. There is very little reason to pay for a finance degree anymore.
I agree with that crash chick about Cramer being a conspiracy. I couldn't agree more.
You forgot to mention that is fundamentally has book of $4/share and $3-4/share minimum in value from the platforms/portals of renn/56.
Has anyone downloaded the app and can comment on user interface and functionality?
RENN will have $1.5b in shareholder equity once nuomi deal is complete this quarter. Then RENN announces the Android platform. Hopefully we get a new partner or two and actually start delivering on a monetizable social media platform.
No warning is a plus. The headline will indicate a huge gain for RENN with the one time gain from partial sale of nuomi I'm glad the call will be on Tuesday and not Friday. FYI, its still trading below book.
Shareholder equity related to SINA is $1.2b and the market cap is 700m shares * 68.26 or $4.8b. With that said it is extremely puzzling why Weibo and SINA main business are only fetching $3.6b considering the price that Alibaba paid to own a minority share in Weibo. Its just another one of those BS games the MMs play. It is interesting that SINA took that $800m of debt and really have not done much with it...I think M&A in China is going to be perking up this year and that should help flush some of the computer BS.
RENN book value is actually ~$4 if you take into consideration the $284m that will hit the balance sheet from the sale of nuomi to BIDU.
Thanks for sharing. Interesting that Renren IR has not issued a PR regarding the release on Android which we all know had been delayed significantly. Harley do you know when it was available for download?
Where are you getting these numbers? I assume you are looking at the Google play numbers...thanks Harley
That doesn't even make sense in such a short time frame.
I am not as certain Chen is in on the manipulation. He should've been rewarded with the $284m sale of nuomi that was very profitable. He also pretty much stole 56 which was never applauded. Is RENN going to ever build the choice social network of China or is he becoming a bank? The interest alone on $1B is near $30m/year.
It probably has more to do with the actual fundamentals of renren actually being a social media site that is compelling. When I signed up for a user account several years ago the user experience was not very desirable. I wonder why RENN doesn't deploy the cash and actually build out. Perhaps Chen was waiting for mobile to start spending. Its good noumi is long gone so RENN can refocus.