It is my understanding Bidu paid $160M cash for 61% of Nuomi which closed at the end of October. My question is where is the cash and the 41% of RENN's portion of Nuomi being reflected in the 3rd qtr statements released yesterday. Is RENN's financial strength being understated.
I think major management change is going to be announced very soon. RENN has too much cash to be ignored. The board of directors have too be looking after there own interests. This is not a dead company; just needs a little guidance.
I have an average cost of $3.36/sh. Should I sell or average down prior to the earnings announcement! Anyone doing anything before earnings and why. My guess is that we get major news announcement which may not be good. Why the late reporting and why the day before Thanksgiving to get out the earnings when there is no trading the next day.