Nobody is going to sue? You forgot the American way of justice!!! Lawyers will gather as many small fish together for a class action suit. Since THEY get 33 to 50% of the lawsuit you are darn sure there will be one. No need for any big players to sue. We are talking MILLIONs of DOLLARS for the lawyers which will come out of the profits of the small shareholders and partly from CHEN (for being stupid). I still get checks from chase bank and several others for 30 cents occasionally (my part of a multibillion dollar suit) Yes the lawyers got the millions - make no mistake THERE will be a lawsuit.
If there is such a problem with CHINEESE companies issuing stock in the US THEN why are they STILL IPOing in the USA?
"Baozun (NASDAQ:BZUN) is one of the biggest names among brands that want to market, sell and distribute their goods online in China.
The Shanghai-based company was founded in 2007.
MS BS is what it is.
Most notably was the fact that almost, no one wanted to sell their stock. Guess they had to figure out a new way to twist the knife on shareholders. Thanks Chen putting my trust in you...NOT.
It would be more profitable to raise RENN's stock to $15 per share rather than buy out the company for $4.20 per share - with all the headaches and lawsuits. Heck, I know he could sell the shares to BIDU for $7+ .. $15 is better than $7
We all agree RENN owns a billion worth of IPO stock... SoFi etc..
Buy RENN stock and offer to Buy out the rest of the shares (including CHEN's) for $5.00 to $6.00 per share.
If you succeed, you can break Renn up and make a BILLION. If you don't then SoFi goes public and RENN stock holders make a ton. In which case you only make a hundred million. Or if CHEN still wants to take RENN you can sell him your shares at $5.50 (Greenmail) WIN WIN
Cost of stock plus buy out premium = $4.50 A few heavy hitters at Goldman are looking this over. Watch the options over the next week. The options will let you know when/if they are in or not. Easy money, EASY Easy money for the Whales.
Buy a few hundred thousand shares of RENN. Then offer to buy RENN for the actual cash value of $6.00 per share including CHEN's portion.. hey if Chen is wanting it for $4.50 per share its got to be worth more than that.. then force him to buy your shares if he wants to take it private. If not buy RENN and break it up.. a few billion for the IPO stock RENN holds, a billion in cash equiv. Wish I was on the board of BIDU or had a few billion. Heck just go to a bank and pledge RENNs holdings as collateral for the purchase price...
Bad earnings? of just the SNS portion RIGHT.. Not the Warren Buffet purchase of valuable IPO stock, the sell of pieces (Nuomi for instance) NETTING HUNDREDS of MILLIONs to capitol gains of RENN the conglomerate.
This allows BIDU to come in with bid of $5.25 then... Anyone can make an open offer, Now that RENN has several billion worth of IPO stock. Just opened the door and Chen will have no alternative but accept the highest offer or quit the tender.
yes I did go back and check on the travel site RENN sold..way back when. They made $74 million on that one. Unlike making $300 million on Nuomi.
Lose 31 million on operations, gain 250** million on investments.. Nice that RENN is ONLY a SNS site and NOT an investment firm. That way we can slam RENN with impunity on the losses.
** (one quarter of a billion - since RENN stands to make a billion on investments this year, it was fair to use only 1/4 of capitol gains when comparing quarterly losses).
Short interest is down to 2.7 million short vs 9.4 million short a year ago.
I guess Chen can make 300 million on the sale of Nuomi and yet get RENN slammed cause the social media site lost a few million. Who cares that Chen invested in companies that may increase RENN by a billion or two as long as the social media site is losing pennies (comparatively). How is Chens track record at buying and selling? I remember the first sale - airline ticket agency(travel agency), made a pile on that one too.
Trying to find the numbers on that sale. Anyone have them (buy/sell) of the travel agency Chen sold?