We don't need to know what is in the iPhone6 or how it looks like, we merely want to know if there is one in the pipeline. Also, just make a statement that earnings release is late would be helpful... even though it is a given.
Few weeks ago, someone on this board asked IR about the sudden drop in traffic rank, they said they were aware of it and would be back up in a week. But this didn't happen.
My thought exactly.
The new owners (direct or indirect) run successful US listed companies.
If no PR coming, looks like it is heading lower :(
This is old news (April 2). But I thought it summarizes the deal quite nicely:
Chinese web giant Shanda (NASDAQ:SNDA) is selling a large stake of Chinese video portal Ku6 (NASDAQ:KUTV) to Chinese entrepreneur Xu Xudong.
Ku6 share prices soared 75 percent after Xu announced he will increase his direct stake to 41 percent and agreed to inject $10 million in new equity or debt financing into the company. Shanda acquired Ku6 in November 2009 and currently owns 70.5 percent.
Ku6, while a well-known video site, is not among the country’s most popular, probably because it focuses less on less full-length licensed TV shows and movies and more on user-generated clips.
Xu Xudong, the founder of social media company Sky Profit, is also Shanda’s largest shareholder. Sky Profit makes an online voice chat tool called iSpeak for gamers, which now has 100,000 daily active users. It’s possible that Xu could push to merge Ku6 and Sky Profit sometime in the future.
Xu is expected to pay between $40 million and $60 million for his stake in Ku6, depending on how the stock price fluctuates prior to the deal closing at the end of this month.
Xiaomi founder Lei Jun and Qihoo (NYSE:QIHU) CEO Zhou Hongyi each own 13 percent stakes in Sky Profit.
Hopefully Xu could let us know how he is going to lead KUTV soon. If Xu is making KUTV like YY, that would be a STRONG BUY.
Regardless of what he is going to do, in my opinion, any indication in the form of a NR would help the PPS. From a trading point of view it is buy at this level and wait for the NR. Patience is key.
He bought at 2.44. I hope he won't let it fall to below 2. If he can drive it above 5... then serious money could come in. IMO.
Thanks for the clarifications.
I like the fact that Shanda still owns 29.5% and Xu (the buyer, who owns 41%) is now the CEO. I believe this combination makes both of their interests align with the shares holders. I would give them a few more quarters to turn this company around. I have waited 3 years, a few more quarters won't hurt. (If you have been here around the dollar mark, the ride of the recent weeks is actually not too bad. LOL
ShortVolume/TotalVolume = 1773432/3853543 = 0.46
Bearing in mind that this is just the primary market Q (NasdaqGM) That is why the TotalVolume is 3,853,543.
I got this numbers from regsho(dot)finra(dot)org / FNSQshvol20140401.txt
What is also worth mentioning is the 6100 shares of Short Execpt, these are the sale order in which the uptick rule doesn't apply to the trade. (got this definition from the web.)
46% of the trades were shorts yesterday. My guess is that this is just the beginning.
Come to think of it. This deal is brilliant in that it doesn't give awat the "true value" of the company. Simply brilliant.
(I read a book called "Investment gurus" or something years ago. In it, Micheal Price said the only time you know how much a company is truely worth is when another buys it with X amount of dollars). But the true of the matter is that a lot of the assets of KU6 (physical and interlectural) are subject to change (Who know how much "pretty girl show" is worth? It could be hit or a miss or something in between) This is deal is brilliant/
Back in 2007 when MSFT bought 1.6% of FB for $240 million which valued FB at $15 billion. Everyone thought it was over priced. Now FB is worth over $150 billion. Go figure.
GIVEN the price is going up. it is good for Shanda bad for Xu. But there is NO guarantee what the price would be by April 24- 30. Also, they are taking the minimum of those five trading days. I would argue it is a good deal for Xu, not Shanda. Why not maximum? An average would be fairer.
For all you know, Xu Xudong shorted kutv from 3.8 three week ago. So he doesn't mind the rise of the pps either. Also, you seem to imply the "market price" is not a good deal for Xu Xudong. You believe after the deal the pps would tank? What if after the deal it doubles? The thing is we don't know (they probably know a lot better than us).
I hear you. And I also have never seen such a deal before. But I believe this deal is fair, since it let the market to decide the price.
My guess is that Neither Shanda nor Mr Xu could agree on a price, so they let the market decide.
If you (or anyone else for that matter) don't 't believe kutv is worth the current price, you are welcome to short it. It is fair game really.
I was here three years ago when it hit 8. Back then, Ku6 was in a mess. then the firing/restructuring. Now they are looking pretty good.
I hope this time around it could break 8 again. Just be patient. It may come.
Remember we were at 3.8 just weeks ago, so this rally is just the beginning. The prices between now and April 23 are going to be very interesting. We are going to have three week of fun.
This is a free market. What is wrong with letting the market to decide the price?
Look, from Shanda Media's point of view, why would they sell it for anything less than the market price? Now they let the market to decide what the market price is and you are saying this is suspicious.
What you are saying is when you sell something on eBay, why let people bid, just go for "buy it now".
The aggregate consideration for the sale shares will be determined based on the lower of the market price of the company’s ADSs during the seven consecutive business days immediately prior to the closing of the transaction and the closing price of the company’s ADSs on the closing date. Xu will fund the purchase price through a loan from Shanda Media, which will be secured by a pledge of all the company’s shares beneficially owned by Xu. The transaction is expected to be completed by April 30.
Correct me if I am wrong, my understanding is that the acquistion price is the minimum of the closing prices of days April 24 - April 30, which could be anything. I am guessing $6.66 or above.
iSpeak cool media acquisition of 41% shares of emerging LEI figure behind
SAN FRANCISCO, April 1 evening news, the latest filings with the U.S. Securities and Exchange Commission show that cool media controlling shareholder Shanda has a 41% stake to cool media Xu Xudong, Xu Xudong is the founder of Sky Profit , the controlling shareholder.
According to reports, Sky Profit as a Cayman Islands-registered company Limited, a non-executive director of Kingsoft Lei Jun is a substantial shareholder of Sky Profit.
Currently, the media has a cool six grand approximately 70.5% stake. This acquisition is expected to be April 30, 2014 to complete.
The acquisition price of the acquisition will be completed prior to seven days cool media ADS market shares, as well as the completion date of the acquisition of Ku6 Media ADS closing price of the shares lower. Xu Xudong will be provided through loans grand to complete this acquisition, and 6 Media shares to guarantee loans by Xu Xudong all the cool beneficially owned.
Documents show, Sky Profit had previously launched voice and video text chat tool called iSpeak of Xu Xudong is iSpeak of operator - general manager of Shanghai Qin and Internet technology software development Limited.
Back in 2008, Kingsoft to $ 8 million to acquire about 30% stake in Sky Profit and establish a strategic partnership with Sky Profit and its subsidiaries. (Yan Fei Viking)