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Technology Stocks : Renren

RENN 1.650

-2.9%

Jun 21 5:00 PM EST

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From: zax	12/6/2011 7:40:29 PM
	2 Recommendations Read Replies (1) of 310

6 Internet Stocks Poised To Surge In January December 6, 2011 seekingalpha.com ... Renren, Inc. ( RENN) is trading at $3.70. Renren is a social networking company in China. Many call it the "Facebook" of China. The 52 week high is $24, so this stock has been beaten-down at the end of 2011. RENN has a market capitalization of about $1.44 billion and a enterprise value of about $231 million due to the cash on the balance sheet of roughly $1.2 billion. The cash on the balance sheet of about $1.2 billion is equivalent to around $3.05 per share, so the stock is trading just barely over cash value. Reports have put the value of Facebook at around $75 to $100 billion, and that makes buying RENN with a enterprise value of about $231 million a real bargain. The largest social networking site in China (the most populous nation in the world) has to be worth more than 1% of Facebook, and this stock should see a boost when Facebook goes public. With this stock trading at less than 1/6th of the 52 week high, I believe this stock is seeing serious levels of tax-loss selling, which should be followed by a big January rebound. ...

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