It wont move no what happens to broader market. At least QIHU showed some life yesterday. Shorts have a tight grip on this and they are having party
That is why I seriously think management needs to intervene.
After re-reviewing earnings PR and CC transcript, I have changed my opinion. I think management is doing good job in trying to create shareholder value. It is purely market manipulation that is causing this extreme undervaluation. However that does not mean they can't get more aggressive.
CASH, CASH is USELESS if it does not flow to shareholders. Undervaluation can last for years. When market gives you ridiculous multiple, most prudent management take advantage of the situation and put their Capital to work and return cash to shareholders.
Unless Global markets tank for some reason. It looks like today was profit taking coupled with weak broader markets
There is enormous value in YY and investors know it.
Wish YY management would recognize it and get aggressive with shareholder friendly actions.
Biggest piece that investors seem to be missing from yesterday is Endorsement of IMGN's ADC technology by a major world pharma.
We need more of these deals. This stock really deserves to be around 12-15