There always has to be some short for the inverse EFT's and the like..But just a million short from the highs of 10 Million++ short, a while back.
Hope Chen decides to push the stock up rather than turning into a HOG. There is so much more he could do with stock that's $25 to $30 per share than owning the whole company. Id like to see him use shares of RENN to buy out BIDU. Just a thought.
Actually RENN has never really been a dedicated SNS. Chen has a nack for investing in great companies, incubating them and then making a BIG buck. I personally think that he is the Chinese Warren Buffet of tech. Everyone seems to emphasize the RENN's SNS earnings, If you take the hundreds of millions from the sale to BIDU, the ticket company chen sold (at the beginning), and a few other deals - the actual earning are phenomenal. Just look at the SOFI deal!! there is potential for RENN to sell for $25 a share. (if SOFI, IPOs at $30 billion) i.e. 1/4 of SOFI is $7.5 Billion to RENN's valuation. And it looks like it might...
Possibly.. if anything someone could figure out how much RENN is worth. Just take the number of SOFI stock issued, multiply that by 25% (how much of SOFI RENN owns) then multiply that by the stock price...
So if SOFI is worth 30 Billion in stock, RENN's part would be worth 7.5 Billion.
Amazing since RENNs market cap is only 1.13 billion now. Shares of RENN should be - on a value basis = (1.13 billion current market cap plus 7.5 billion, from SOFI) or 8.63 billion.
Roughly RENN should be worth $25.20 per share.